Cogeon (Math42) has been acquired by Chegg, Inc (NYSE:CHGG).
Quarton International acted as the exclusive investment banking advisor to Cogeon in connection with the transaction.
With the acquisition of Cogeon, Chegg will be able to provide self-guided and personalized math solutions to more students, deepening their reach in the high school market. Chegg will leverage Cogeon’s unique A.I.-based math technology to enhance current capabilities inside Chegg Study and expects to launch an integrated new product, Chegg Math, in the second half of 2018.
Founded in 2013, Berlin-based Cogeon GmbH develops a scalable core technology for automated, individualized and adaptive mathematical learning applications. Cogeon’s platform is a proven math learning system which optimizes individual math learning pathways for learning and solving math problems and exercises. Cogeon’s primary application – Math 42 – is a trusted math learning app offering hierarchical step-by-stepsolutions, concept walk-throughs, and personalized assessment, built upon an artificially intelligent learning engine. Built by a family of expert chess players and exceptional mathematicians with deep technical expertise, Cogeon’s math technology is rooted in a unique combination of mathematical, technological and didactical frameworks.
Chegg puts students first. As the leading student-first connected learning platform, the company makes higher education more affordable, more accessible, and more successful for students. Chegg is a publicly-held company based in Santa Clara, California and trades on the NYSE under the symbol CHGG. For more information, visit www.chegg.com.