Characteristics of Mergers and Acquisitions in the Education Services Sector: A Social Network Analysis (2017-2024)

• In Event: Money Matters: Finance, Markets, and Equity in School Choice Systems

Abstract

This study investigates acquisition deals in the U.S. education sector from 2017 to 2024. By mainly employing social network analysis, the study focuses on examining the characteristics of acquisition deals and identifying the influential actors involved in them. Results show a surge in acquisition deals from 2021 to 2023, with venture capital firms leading deals targeting online learning platforms and edtech companies. Contributing factors include historically low interest rates and rising demand for online learning during the pandemic. The network analysis reveals a fragmented acquisition network with venture capital firms maintaining a strong presence over time. The findings contribute to policy discussions on market-based reform, which has impacted and will impact how education systems are funded, structured, and operated.

Authors

• Shiqi Wu, University of California - Los Angeles

• Bradley Curs, University of Missouri

• Ozan Jaquette, University of California - Los Angeles