Cambium Learning, Voyager Learning merge, form Cambium Learning Group

By Lisa Kerner

Charlotte, N.C., Dec. 8 - The merger of Cambium Learning Inc. and Voyager Learning Co. was completed through newly formed company Cambium Learning Group, Inc., which issued shares to stockholders of Cambium and Voyager.

Voyager stockholders approved the merger at a special meeting on Tuesday.

Effective Wednesday, Cambium Learning Group will be a publicly traded company listed on the Nasdaq Global Market under the symbol "ABCD," according to a Cambium Learning Group news release.

Cambium Learning Group, based in Dallas, is majority owned by Veronis Suhler Stevenson, a private equity investor in the information, education and media industries.

Ron Klausner is chief executive officer of Cambium Learning Group. Dave Cappellucci is president of the new company and president of the Voyager business unit.

Cambium Learning Group's nine-member board of directors will include Klausner, Cappellucci and Richard Surratt, former president and CEO of Voyager.

In June, Voyager and Cambium announced a merger agreement in which Voyager stockholders would receive either one share of common stock of the newly formed company or $6.50 in cash and Cambium's sole stockholder would receive total consideration of approximately $158 million.

Based in Natick, Mass., Cambium is an education company specializing in intervention services for literacy and mathematics.

Dallas-based Voyager publishes various solutions for the U.S. educational market.

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