Promethean World PLC has agreed to acquire SynapticMash Inc., a start-up U.S. education formative assessment software company. The initial consideration is $10 million in cash, of which $1 million is deferred for 18 months. A further performance-related consideration of $3 million may be payable in 18 months.
SynapticMash directly fits Promethean’s education strategy and significantly strengthens Promethean’s formative assessment and learner response systems (LRS) offering. LRS are hand-held devices that allow students to contribute in real time during lessons, and enable teachers to instantly gauge student understanding.
SynapticMash’s LearningQube software will be fully integrated with Promethean’s LRS devices and specialized teaching software, ActivInspire, to create a new and powerful formative assessment proposition for the education market, enabling teachers as well as school administrators to improve student assessment and performance.