Galvanize, a Denver-based company that offers startup office space and coding boot camp programs, has been acquired by online education company K12 Inc. in a $165 million deal.
Galvanize operates eight campuses across the U.S., including one in downtown Seattle. The company has graduated more than 8,000 students, who have gone on to work at approximately 2,250 companies, including giants like Amazon, Google, Apple and Facebook.
K12 is a publicly traded company based in Virginia that sells online education curricula and tools. The company reported $1.01 billion in revenue in its 2019 fiscal year.
K12 traditionally focused on educational programs from elementary through high school. But, company executives said, the technological revolution of the last few decades has created huge demand for adult education as companies struggle to find workers to fill technical positions.
“This acquisition expands our vision for career education to go beyond high school by developing talent and capabilities for learners of all ages and backgrounds,” said K12 CEO Nate Davis said in a statement. “Whether someone is discovering career options, trying to switch fields, honing their job skills, or learning new skills in pursuit of a new opportunity, we want to help ensure all learners have an equal shot at a rewarding career.”
The deal is expected to close later today. K12 will discuss the acquisition further on its quarterly earnings call at 2 p.m. Pacific.