Bahrain investment firm Investcorp is to acquire education solutions provider GL Education Group (GLE).
GLE, based in the UK, sells products and services that allow school teachers to assess various abilities of students.
Investcorp acquires the business from Veronis Suhler Stevenson, a private equity firm focused on information, education, media and marketing.
The terms of the deal were not disclosed.
“GLE is a leader in this niche market and enjoys an established reputation for high-quality assessment resources and services,” said Mohammed Al Shroogi, Investcorp’s President for Gulf business.
“With products used in 100 countries, GLE benefits from a very stable market underpinned by increasing demand for assessment products and services,” he added.
GLE, founded in 1981, has more than 15,000 customers in over 100 countries worldwide.
As of 31 December 2011, assets under management by Investcorp were valued at US$11.6bn.