HERNDON, Va., Jul 26, 2010 (BUSINESS WIRE) — K12 Inc. /quotes/comstock/13*!lrn/quotes/nls/lrn (LRN 25.37, +1.07, +4.40%) , one of the nation’s largest providers of proprietary curriculum and online school programs for students in kindergarten through high school, announced today the all-stock acquisition of KC Distance Learning, Inc. (KCDL), a privately-held, nationally-recognized provider of distance learning programs for middle and high school students, with a newly-issued class of non-voting shares having a value of $63.1 million under the terms of the Merger Agreement.
The acquisition bolsters K12′s position as a leader in K-12 online education and a premier provider of virtual school solutions. The move adds a new line of products and services to K12′s robust offerings for public and private schools, international schools, and individual consumers. Additionally, K12(R) significantly increases the size of its online private school offering through the acquisition of KCDL.
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