Media and internet company IAC said it will acquire The Princeton Review, the Natick-based test preparation and college admission services company owned by Charlesbank Capital Partners.
The acquisition will be carried out by IAC’s Tutor.com business, an online tutoring company. Following the acquisition, Tutor.com and The Princeton Review will be run by Tutor CEO Mandy Ginsberg, according to a statement.
Services of the combined company will be offered primarily under The Princeton Review brand, though Tutor.com will be used for certain clients.
“We’re confident that by combining Tutor.com’s technology and marketing expertise with such a trusted brand, our … solution for students will be like nothing else in the marketplace and we’ll take a big part of a large and growing market,” Ginsberg said in a statement.
The acquisition is expected to be complete on Aug. 1 Terms of the deal were not disclosed.
Image source: FreeDigitalPhotos.net
