Herndon-based K12 Inc. sells some assets
Herndon-based K12 Inc. has sold several assets to Pansophic Learning, a new McLean-based company owned by Safanad Ltd., an global investment firm.
Financial details of the transaction were not released.
The acquisition includes and international private school, a higher education platform business and the K12 business in the Middle East.
Pansophic Learning also acquired licenses to curriculum and technology.
Pansophic Learning plans to expand and integrate these businesses with other targeted investments in educational products, services and schools from pre-K to college.
Ron Packard, K12 Inc.’s founder and former CEO, will serve as CEO of Pansophic Learning.
Pansophic Learning’s holding company, Safanad Education, is a subsidiary of Safanad Ltd.
The new company will consider additional investments in the United States and abroad, not in the K-12 market, but also in post-secondary and early childhood education.