PowerSchool and EAB completed the acquisition of Hobsons from Daily Mail and General Trust for $410m.

PowerSchool, a provider of K-12 education technology solutions, and EAB, a US-based education company, completed the acquisition of Hobsons, an EdTech firm, from Daily Mail and General Trust, a British multinational media company, for $410m. PowerSchool acquired the Naviance and Intersect businesses of Hobsons for about $320m. Meanwhile, Hobsons' Starfish platform was spun out of the company and was sold to education company EAB for about $90m. "These two transactions mark another major milestone in DMGT's transformation and are a clear demonstration of the benefits of our strategy. Consistent with our strategy, the divestitures will increase the focus of the DMGT portfolio, resulting in the Group operating in four sectors, compared to ten in 2016. The proceeds will strengthen DMGT's existing net cash position, further enhancing DMGT's significant financial flexibility," Paul Zwillenberg, Daily Mail CEO.