Macmillan New Ventures Buys Late Nite Labs
Macmillan New Ventures is a division of Macmillan Science and Education that has acquired Late Nite Labs. Late Nite Labs is virtual online science labs company that was designed for higher education institutions and secondary schools. The financial details were undisclosed. Macmillan New Ventures will absorb Late Nite Labs’s brand assets, products, and team into their own operations based in New York.
Macmillan will be expanding the Late Nite Labs team and will provide the company with support and resources going forward. Late Nite Labs’s online lab contains over 100 interactive lab simulations that are utilized by higher education institutions and secondary schools. Late Nite Labs can be seamlessly integrated into science curricula in these institutions. Their software reduces the cost of lab supplies and gives students the ability to access virtual labs from anywhere.
“We are sincerely looking forward to joining forces with Macmillan New Ventures,” stated Late Nite Labs President and founder David Jaffe. “The company shares in our vision to generate fresh, engaging and innovative content for students, relentlessly disrupting and improving STEM education through our superior simulation science lab software. I am confident that this partnership will improve our ability to exceed customer expectations and truly move the needle within education technology.”
The Late Nite Labs platform allows educations build their own custom science labs with materials and chemicals that are usually hard to acquire in a traditional lab because of costs, space, and safety restrictions.
This is Macmillan New Ventures’s third acquisition in the past year. Macmillan acquired Sapling Learning this past November and EBI MAP-Works in May. Other Macmillan New Ventures business includes i>clicker, a student response system and adaptive learning platform PrepU.