Transaction
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.
Client
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.
Buyer
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.
Contact
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