Cengage CEO scoops up Framingham imaging software company
'The feedback we got was very strong,' Hansen said. 'They said, 'This is a great way to teach this material. However, we feel that the company doesn't have enough reach.''
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That's something Cengage's global sales force can offer, as tens of millions of students use Cengage's materials around the world.
The acquisition will further help Cengage gain even more of its revenue, which totaled $1.5 billion last year, from digital sources. Hansen said 78 percent of Cengage's revenue is digital, versus print, and that percentage will likely grow further — with the help of more acquisitions in the future. (Cengage's roots are in textbook publishing.)
'We believe that there are ample opportunities given how well our business is performing,' Hansen said. 'We're definitely in expansion mode. We're looking forward to more organic growth as well as acquisitions to come.'
This is an installment of our weekly Bold Types column about the movers and shakers on Boston's business scene.
Jon Chesto can be reached at
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