Turning Technologies acquires eInstruction
YOUNGSTOWN – Youngstown-based data delivery and collection company Turning Technologies has acquired eInstruction, a global education technology company that had been headquartered in Arizona.
Officials said during Wednesday’s announcement the acquisition will allow eInstruction’s educational technology, like classroom instruction and student response systems, interactive whiteboards and assessment software to complement Turning Tech’s existing learning and presentation products.
The company expects the acquisition to give the company the majority market share.
“We believe that with the addition of eInstruction to our existing business, we will create a strong, stable platform to launch new, cutting-edge products and allow our enhanced businesses to continue to innovate and providing leading audience response solutions across all markets,” said Turning Technologies’ CEO Mike Broderick.
The merger will help Turning Technologies diversify and accelerate growth while remaining unique from competitors.
“As a result of bringing together the expertise of the combined organizations, the innovation and momentum will only accelerate, which will mean great things for our collective education customers,” said Rich Fennessy, CEO of eInstruction.
eInstruction, which was headquartered in Scottsdale, Ariz., also has offices in Denton, Texas, Fort Wright, Ky., and Paris, France. While the eInstruction Scottsdale office will remain open, global headquarters for the combined organization will be in Youngstown.
Turning Technologies employs about 200 employees, and eInstruction employs about 100 full-time workers whose positions will be unaffected. In addition, the company said about 30 temporary eInstruction employees will be added to assist with the transition.
Dollar figures for the acquisition were not made public, but company officials said the deal was made possible in part by a partnership formed in 2010 to recapitalize Turning Technologies, which grow the organization.
Brockway Moran & Partners Inc., a Florida-based private equity firm, in partnership with Turning Tech’s management and other Turning Tech founders, recapitalized Turning Technologies in 2010. Shares are held by Brockway and by individuals in the Youngstown area.
Turning Technologies’ global headquarters will remain in Youngstown. The company is firmly committed to the Mahoning Valley, a spokeswoman said.