GetSmarter sold in $103mln deal

NASDAQ-listed education company, 2U, has acquired GetSmarter from its founders and growth capital investor DiGAME in an all-cash $103 million deal. The deal allows for an additional $20 million earnout on the achievement of certain financial milestones through the end of 2018.

Cape Town-based GetSmarter was founded in 2008 by the Paddock brothers, Sam and Rob, who have largely bootstrapped the business since its launch. Sam Paddock told Ventureburn that DiGAME invested $5 million in the company on 2016. Valuation details for that transaction or the exit were not disclosed.

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