Emeritus has announced a definitive agreement to acquire iD Tech, the world leader in youth STEM education for $200 million. The acquisition which is being made through Emeritus’ parent company Eruditus marks its expansion into K12 Stem education. The company is growing to prepare individuals of all ages to succeed in the workforce, and positions Emeritus as one of the largest and fastest growing skilling platforms.
Upon the closing of the transaction, iD Tech will operate independently, maintaining its all-star team of instructors and employees. Emeritus and iD Tech’s distinct, yet highly complementary, offerings will be scaled to support a global audience with improved learning experiences.
Ashwin Damera, Co-Founder and CEO, Emeritus, said they are in the business of teaching the skills of the future like AR/VR, artificial intelligence, cybersecurity, software engineering, design thinking and leadership to professionals. “We believe that proficiency and mastery of these skills should begin in K12, and that iD Tech will be instrumental as we jointly pursue our goal of closing STEM skills gaps globally. Their long-term learning system is a perfect complement to what we offer adult learners and will allow us to create a formidable life-long learning ecosystem. Moreover, as a female founded family company, with strong DEI initiatives and a mission-driven culture, the iD Tech team is inspiring and we are excited to be working together.”
Pete Ingram-Cauchi, CEO of iD Tech, echoed these sentiments noting that more and more kids are experiencing STEM touchpoints in their daily lives, whether its coding in their favorite video games or 3D printing mask extenders. The pandemic accelerated interests in STEM fields, and we have been ecstatic to see more interested learners exploring and mastering this space. Both iD Tech and Emeritus share the belief that such offerings will only continue to grow in interest, and we are confident that we can open access for people everywhere to our courses and instructors.
Damera highlighted that the platform’s global reach – its university partnerships and corporate clients span North and South America, Europe, Middle East and Southeast Asia, and 3x growth in emerging markets, combined with the fact that iD Tech has students from 135 countries and all 50 states in the US, makes for an unprecedented life-long learning proposition for students and professionals worldwide.