M&A in EdTech: Why Major Tech Companies Are Acquiring Learning Platforms
NOVEMBER 19, 2025


In today’s rapidly evolving world, technology is reshaping virtually every aspect of our lives, and education is no exception. Investments in educational technology, commonly known as EdTech, have become essential to creating a high-quality, accessible, and effective learning environment. EdTech is not just about introducing new tools; it represents a fundamental shift in how knowledge is delivered, making education more personalized, interactive, and adaptable to the unique needs of each learner.
Educational institutions, corporations, and governments are allocating significant resources toward digital platforms, software solutions, interactive learning materials, and analytics systems. These investments aim to enhance educational quality, improve student outcomes, and prepare learners for the challenges of the modern workforce. In this era of digital transformation, EdTech has become an indispensable part of the educational infrastructure, fostering critical 21st-century skills such as critical thinking, creativity, and digital literacy.
Increasing Global Adoption of EdTech Tools
The adoption of digital learning technologies is growing rapidly across both developed and developing regions. Improved access to high-speed internet, the widespread use of affordable mobile devices, and the expansion of cloud-based services have made educational technologies more accessible than ever before.
The COVID-19 pandemic acted as a major accelerator of this shift. As schools and universities were required to transition urgently to remote and hybrid formats, the demand for virtual learning platforms, online collaboration tools, and systems for real-time progress monitoring surged. The experience demonstrated not only the necessity of EdTech but also its potential to maintain learning continuity during disruptions.
Today, EdTech includes a broad spectrum of solutions—from interactive textbooks and video-based lessons to advanced technologies such as artificial intelligence, virtual reality (VR), and augmented reality (AR). Many countries are now developing national strategies for digital education, recognizing that the future success of their educational systems depends on how effectively they adopt and integrate these innovations.
Why Measuring ROI Matters for Educators, Institutions, and Investors
Despite the clear advantages of EdTech, investments in educational technologies must be supported by evidence of actual impact. Return on Investment (ROI) is a critical metric that allows stakeholders to evaluate whether the resources invested in technology generate meaningful improvements in educational effectiveness and operational efficiency.
For educators and school administrators, analyzing ROI helps determine whether new tools truly enhance pedagogical practices, increase student engagement, and support improved learning results. At the institutional level, ROI serves as an important instrument for strategic planning and budget optimization, ensuring funding is allocated to initiatives that produce the greatest benefit.
For investors and companies operating in the EdTech sector, clear ROI indicators are essential for making data-driven decisions and assessing long-term growth potential. Given the constraints of limited financial resources and the growing competition within the sector, it is increasingly important to identify solutions that deliver measurable improvements and to re-evaluate or replace those that do not.
Ultimately, ROI measurement is far more than a financial evaluation—it is a strategic approach to quality assurance, innovation management, and informed decision-making in education. By integrating comprehensive ROI assessment practices, stakeholders can ensure that EdTech investments not only align with educational goals but also generate sustainable value for learners, institutions, and society as a whole.
The Evolution of Education Technology
Education technology has evolved dramatically over the past few decades. What began as simple tools like overhead projectors and basic computer labs has transformed into a dynamic ecosystem of digital platforms, interactive software, and immersive learning environments.
In the 1990s and early 2000s, the introduction of personal computers and the internet into schools marked the first major wave of EdTech adoption. This era focused primarily on digitizing traditional learning materials, such as textbooks and worksheets, and making educational content more accessible through e-learning portals.
Over time, advances in broadband connectivity and mobile technology led to the proliferation of online courses, video tutorials, and Learning Management Systems (LMS) that allowed educators to manage classrooms and track student progress digitally.
Today, EdTech stands at the forefront of a revolution driven by artificial intelligence, virtual and augmented reality, and data analytics, enabling personalized, interactive, and adaptive learning experiences that were unimaginable just a decade ago.
Several cutting-edge trends are shaping the future of education technology:
Integrating technology into educational environments delivers substantial advantages that directly impact student engagement, teaching efficiency, and long-term institutional performance. When correctly implemented, EdTech solutions transform traditional learning models, making education more dynamic, inclusive, and results-oriented. Key benefits include:
When integrated strategically, educational technology enhances learning engagement, expands access, supports real-time evaluation, scales instructional capacity, and improves operational efficiency. Most importantly, it equips learners with the competencies required to succeed in an increasingly digital and innovation-driven economy. These benefits highlight the critical role of EdTech in modern classrooms and reinforce the need for evidence-based, ROI-focused investment strategies to maximize impact.
The global EdTech landscape offers numerous examples of successful implementations that demonstrate how digital solutions can transform education at scale. These initiatives showcase different approaches — from free access to high-quality learning content to fully reimagined higher education models — and highlight how technology can improve student engagement, accessibility, and learning outcomes.
Khan Academy (Global): Khan Academy is a nonprofit platform that has revolutionized access to education by offering free, high-quality online lessons in mathematics, science, history, economics, and other subjects. Available in multiple languages, it serves millions of learners globally across different age groups. Its adaptive learning system allows students to progress at their own pace, filling knowledge gaps through step-by-step lessons and practice exercises. Educators benefit from real-time tracking tools that help monitor student progress and customize instruction accordingly. Khan Academy is widely used both in traditional classrooms and for independent learning, proving that scalable, accessible EdTech solutions can have a substantial global impact.
BYJU’S (India): BYJU’S is one of the world’s largest and most commercially successful EdTech companies, originating from India and now expanding internationally. It provides engaging video-based lessons, interactive tasks, and adaptive assessments aimed primarily at K–12 learners. The platform personalizes learning experiences based on student performance and learning speed, making complex topics more digestible. Its hybrid model — combining multimedia learning with one-on-one mentoring — helps reinforce academic concepts. BYJU’S success highlights the potential of EdTech to support large-scale educational transformation in high-population countries and demonstrates how technology can bridge disparities in educational quality.
Duolingo (Global): Duolingo has transformed language learning by incorporating gamification, microlearning, and artificial intelligence to tailor lessons to individual user needs. Available in over 40 languages, the app adapts difficulty levels based on performance, provides instant feedback, and motivates users through progress tracking, rewards, and daily learning streaks. Its accessible, mobile-first design enables learning anywhere and anytime, making it highly effective for a wide demographic. Duolingo’s model illustrates how behavioral psychology and AI can be applied to boost learner retention and engagement.
Estonia’s Digital Education Ecosystem: Estonia is recognized as one of the global leaders in digital innovation, with widespread adoption of technology across its education system. The country implemented a national digital strategy that integrates online learning platforms, cloud-based infrastructure, and digital assessment tools across schools. Students use educational platforms from early grades, while teachers rely on data analytics for lesson planning and personalized feedback. This consistent national approach has contributed to Estonia’s position among the top-performing countries in global educational rankings. Its example demonstrates how coordinated policy, infrastructure, and training can create a holistic digital education ecosystem.
Minerva Schools (USA): Minerva Schools, part of Minerva University, offers a pioneering model of technology-driven higher education. Instead of traditional campus-based lectures, Minerva uses a fully online active learning platform where students engage in live seminars guided by dynamic discussion, case analysis, and real-world project work. The emphasis is placed on critical thinking, analytical reasoning, and cross-cultural collaboration. Students study across several global cities, integrating experiential learning with digital engagement. This model demonstrates how EdTech can reimagine higher education by moving beyond passive instruction toward interactive, experience-based learning.
These global examples illustrate how EdTech can be successfully implemented across different educational levels and contexts — from self-paced individual learning to nationwide digital ecosystems and innovative university models. The common factors behind their success include accessibility, adaptive learning, scalability, and strong alignment with modern learner needs. These case studies also show that technology alone is not enough — impact is maximized when EdTech is supported by strategic planning, high-quality content, and effective implementation practices.
What is ROI? Traditional Financial vs Educational ROI
Return on Investment (ROI) is a concept that traditionally refers to how much benefit you gain compared to what you spend. In business, it’s usually measured in financial terms: if you invest a certain amount of money, how much profit do you get back?
In the context of education technology, ROI is more nuanced. While financial efficiency is still important, the primary return often isn't money — it's better educational outcomes. That might include improved student performance, more engaged learners, higher graduation rates, or better teacher efficiency.
Financial ROI in EdTech might involve things like saving money on textbooks by switching to digital resources, or reducing administrative workload with automation. However, educational ROI goes beyond finances — it looks at whether the technology actually improves teaching and learning.
Measuring ROI in education is more difficult than in business because many of the benefits are indirect or take a long time to appear. Here are some of the challenges:
Multiple influencing factors: Student success depends on more than just technology — things like teacher quality, parental involvement, and school leadership also play a big role. That makes it hard to isolate the impact of EdTech.
Delayed outcomes: You might not see the full benefit of an EdTech investment for years — for ex ample, students gaining critical thinking skills that help them in college or their careers.
Hard-to-measure value: Benefits like student motivation, confidence, or curiosity are incredibly valuable, but difficult to measure in data points.
Different expectations: Teachers, school administrators, policymakers, and investors all have different definitions of “success.” For some, it’s cost savings. For others, it’s higher test scores or student well-being.
Because of these factors, ROI in EdTech often requires a combination of data (like test scores or usage reports) and human feedback (like surveys and interviews).
Short-Term vs Long-Term ROI in EdTech.
When evaluating EdTech investments, it’s important to consider both short-term and long-term returns.
A successful EdTech strategy should balance both: capturing early wins while keeping an eye on deeper, lasting impact.
Intangible Benefits: Engagement, Retention, Skill Development.
Some of the most powerful outcomes of EdTech are not directly measurable — but they are crucial to modern education. These include:
Student engagement: Technology can turn passive learning into an interactive experience. Games, videos, adaptive quizzes, and simulations help students become more active participants in their education.
Better retention and reduced dropout rates: When students feel supported and engaged, they’re more likely to stay in school. EdTech can offer personalized learning paths that help struggling students catch up and succeed.
Real-world skill development: Through digital tools, students learn essential skills like collaboration, problem-solving, critical thinking, and digital literacy. These are highly valued in today’s workforce and society.
Teacher empowerment: EdTech isn’t just for students. Teachers benefit from tools that help them analyze performance data, personalize instruction, and connect with students more effectively.
Even though these benefits aren’t easily turned into statistics or dollar amounts, they are often the most significant outcomes of investing in education technology.
Measuring ROI in education technology goes far beyond calculating costs and comparing budgets. It involves tracking real improvements in learning outcomes, teaching effectiveness, and institutional efficiency. To capture the full picture, educators and decision-makers need a combination of quantitative and qualitative metrics, backed by structured evaluation frameworks and reliable data collection methods.
Quantitative Metrics: Test Scores, Graduation Rates, Attendance. Quantitative metrics are numerical indicators that help track tangible outcomes of EdTech initiatives. These are often used to provide evidence of academic or institutional progress.
While quantitative data like test scores and attendance rates provide important measurable outcomes, qualitative metrics are equally crucial for understanding the deeper impact of educational technology. These metrics shed light on user experience, motivation, and overall satisfaction — elements that often serve as early indicators of long-term success in EdTech adoption. By capturing the perceptions, feelings, and attitudes of students, teachers, and other stakeholders, qualitative insights reveal how well technology fits into the learning environment and whether it genuinely supports teaching and learning processes.
Student Satisfaction and Engagement. Students are the primary users of EdTech, so their feedback offers invaluable information about how these tools affect their learning experience. Collecting student perspectives through surveys, focus groups, and interviews allows educators to assess whether the technology is motivating and accessible. For instance, surveys might ask students if they find the learning content engaging or if the technology helps them understand difficult concepts more easily. Students may also be asked whether the platform allows them to learn at their own pace and feel more in control of their educational journey — a critical factor for fostering autonomy and responsibility.
In addition, understanding the challenges students face—such as technical difficulties, confusing interfaces, or lack of clarity in instructions—can help schools identify and address barriers to effective usage. Tools like Likert-scale surveys provide quantitative-style feedback on satisfaction levels, while open-ended questions or embedded polls within learning platforms encourage more detailed responses. These insights help refine the technology and its implementation to better meet students’ needs.
Teacher Feedback and Observations. Teachers are at the heart of EdTech integration. Their experience and opinions often determine whether a technology tool is effectively utilized and embedded into everyday instruction. Collecting qualitative data from teachers includes gathering their observations on the usability of the technology, how seamlessly it fits within the existing curriculum, and its actual impact on student learning outcomes.
Key aspects to evaluate from teachers’ perspectives include how easy the tool is to navigate and use during lessons, whether it provides meaningful data to track individual student progress, and how well it supports differentiated instruction. Additionally, teachers can offer feedback on the quality and availability of professional development and technical support related to the tool, which directly affects their confidence and competence. Beyond usability, teachers’ insights on changes in student behavior—such as increased participation, enthusiasm, or collaboration—are vital. These behavioral changes often precede measurable academic improvements and signal the deeper value of EdTech investments.
Parental and Administrative Input. In K–12 education especially, parents and school administrators form a crucial part of the EdTech ecosystem. Their perspect ives provide a broader context for understanding how technology impacts students outside the classroom and how it aligns with institutional policies and priorities. Parents’ feedback can highlight concerns or positive effects regarding accessibility, equity, and student safety. For example, they may notice whether EdTech platforms are inclusive for students with diverse learning needs or if there are issues related to screen time and online security. Administrators, on the other hand, can evaluate how the technology supports school-wide goals, budgeting, and compliance requirements. Engaging these stakeholders through surveys, meetings, or advisory groups ensures that the implementation of EdTech is transparent, inclusive, and aligned with the expectations of the wider school community. Their input can uncover hidden challenges or opportunities, strengthening the overall effectiveness and acceptance of educational technology.

When exploring the return on investment (ROI) in education technology, it’s crucial to look beyond theory and examine real-world examples where EdTech initiatives have been implemented. Case studies from K-12 schools, higher education institutions, and corporate training environments offer a wealth of insights into what works, what doesn’t, and the lessons educators and administrators can draw from these experiences. By analyzing these varied contexts, stakeholders can better understand the complexities involved in measuring ROI and the factors that influence success or failure.
In many K-12 settings, EdTech investments have focused on personalized learning platforms, interactive content, and digital assessment tools designed to boost student engagement and close achievement gaps. For instance, several school districts adopted adaptive learning software that customizes instruction based on individual student performance. In some cases, such as the implementation of DreamBox Learning in certain U.S. districts, early data showed significant gains in math proficiency, especially among struggling learners. This quantitative improvement translated into stronger test scores and higher confidence among students, which are key educational returns. However, these successes were often contingent on effective teacher training and ongoing support. Districts that underestimated the importance of professional development found that technology alone wasn’t enough — without properly trained educators, the tools were underutilized, and ROI suffered. The lesson here is clear: investment in EdTech must be coupled with investment in people to maximize impact.
Higher education institutions have also been active adopters of EdTech, particularly in areas such as online learning platforms, virtual labs, and data analytics for student retention. Universities that integrated comprehensive Learning Management Systems (LMS), like Blackboard or Canvas , obse rved measurable improvements in course completion rates and student satisfaction. One notable example is Arizona State University, which used data analytics to identify at-risk students and provided targeted interventions through their online learning system. This strategic use of EdTech contributed to increased retention rates and reduced dropout numbers, key indicators of long-term ROI in higher education. Yet, even in higher ed, challenges remain, including technological disparities among students and resistance from faculty accustomed to traditional teaching methods. Successful institutions were those that aligned EdTech investments with pedagogical goals and invested in change management alongside technology deployment.
In the corporate training sphere, ROI measurement is often more straightforward because returns can be tied directly to employee performance, productivity, and business outcomes. Companies investing in digital learning platforms and virtual reality simulations have reported faster onboarding times, reduced training costs, and improved employee retention. For example, Walmart’s investment in VR training for employee onboarding resulted in both time savings and better preparedness for real-world scenarios, leading to measurable improvements in customer service and operational efficiency. Unlike K-12 and higher education, corporate training ROI is often evaluated through clear metrics such as training completion rates, skills acquisition, and subsequent performance improvements. However, even in this sector, not all EdTech investments yield expected returns; issues like poor user experience or irrelevant content can limit engagement and reduce effectiveness. The takeaway is that content relevance and user-centric design are critical for EdTech ROI in corporate environments.
Comparing ROI across K-12, higher education, and corporate training reveals important distinctions. In K-12, ROI tends to be more complex and long-term, emphasizing academic achievement, equity, and student well-being. Investments often require significant teacher involvement and ongoing support structures. Higher education shares many of these features but also places a stronger focus on data-driven interventions and scalability. Corporate training typically features shorter feedback loops and clearer performance metrics, making ROI assessments more direct. Despite these differences, one consistent theme emerges: the greatest returns come from aligning technology with clear educational or business objectives, providing adequate training and support, and continuously monitoring and adjusting the approach based on data.
Ultimately, case studies underscore that EdTech investments are not guaranteed successes. The effectiveness of these tools depends on thoughtful implementation, user buy-in, and a willingness to adapt strategies in response to feedback and outcomes. By learning from past initiatives—both their triumphs and shortcomings—educators and organizations can better plan future investments to maximize the transformative potential of education technology.
Maximizing return on investment in education technology is a multifaceted challenge that requires deliberate planning, ongoing support, and active engagement across all levels of an educational institution. EdTech investments are not just about purchasing the latest software or hardware; their true value is unlocked when technology is thoughtfully integrated into the educational ecosystem with clear goals and sustained effort. Here are some of the key strategies that institutions can implement to ensure their EdTech investments deliver meaningful, measurable results.
Aligning EdTech Investments with Institutional Goals. The first and most critical step to maximize ROI is ensuring that any EdTech investment directly supports the broader strategic goals of the institution. Whether the priority is improving student achievement, increasing equity, enhancing teacher effectiveness, or streamlining administrative processes, technology should be chosen and implemented with these outcomes in mind. For example, if a school district aims to close achievement gaps, it might prioritize adaptive learning platforms that personalize instruction for diverse learners. If a university seeks to increase retention rates, it could invest in analytics tools that identify students needing extra support. Without this alignment, there is a risk of adopting flashy technologies that do not address actual needs, leading to underutilization and wasted resources. Careful needs assessment involving educators, administrators, and students should precede any purchase, ensuring that EdTech solutions are tailored to real challenges and institutional objectives.
Professional Development for Educators. One of the most common reasons EdTech investments fail to deliver expected ROI is insufficient training and ongoing support for educators. Teachers are the frontline users who bring technology into the classroom and integrate it into instruction, so their competence and confidence with the tools are paramount. Professional development programs should not be one-off events but continuous, evolving initiatives that provide hands-on training, pedagogical guidance, and opportunities to share best practices. Effective training also addresses not just technical skills but instructional design and classroom management in a technology-enhanced environment. When teachers understand how to leverage EdTech to meet diverse student needs and curriculum goals, the technology becomes a powerful accelerator rather than a cumbersome add-on. Additionally, building a community of practice where educators can collaborate and troubleshoot together can increase adoption rates and deepen impact.
Continuous Assessment and Iteration. Maximizing ROI requires a commitment to ongoing evaluation and refinement. EdTech is not a set-it-and-forget-it solution; its effectiveness depends on how it is used and adapted over time. Institutions should establish mechanisms for continuous assessment using both quantitative data (student performance metrics, usage statistics) and qualitative feedback (teacher and student surveys, focus groups). This data helps identify what is working well and what needs adjustment. For instance, if an interactive reading platform shows low engagement among certain student groups, educators might tweak how it is incorporated into lessons or provide additional support. Regular review cycles allow for iterative improvements, ensuring that the technology remains relevant, effective, and aligned with evolving goals. Moreover, this data-driven approach supports transparency and accountability, demonstrating the value of the investment to stakeholders.
Building Stakeholder Buy-In and Support. EdTech initiatives touch multiple stakeholders—students, teachers, parents, administrators, and sometimes funders or investors—and securing their buy-in is essential for maximizing ROI. Early involvement of these groups in the decision-making process fosters a sense of ownership and helps address concerns or resistance before they escalate. Clear communication about the goals, expected benefits, and how success will be measured can build trust and enthusiasm. For teachers, this might mean highlighting how technology can reduce administrative burden or personalize instruction; for parents, emphasizing improved access and engagement; for administrators, focusing on efficiency and data insights. Furthermore, championing EdTech advocates or “change agents” within schools—individuals who are passionate about technology and can inspire peers—can accelerate adoption and sustainability. Engaging stakeholders continuously throughout implementation, not just at launch, ensures ongoing support and responsiveness to their needs.
In summary, maximizing ROI in EdTech is an intentional, ongoing process. It begins with strategic alignment, is powered by meaningful professional development, relies on continuous feedback and refinement, and thrives through broad-based stakeholder engagement. Institutions that embrace these strategies are better positioned to harness technology’s transformative potential and translate investments into lasting educational improvements.
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