Date: 30th May 2012
Macmillan, the global education and media company, today announced that it has acquiredEducational Benchmarking, Inc. (EBI). EBI has been servicing institutions of higher education since 1993, and currently works with over 1,500 college and universities nationwide. EBI will join the Macmillan New Ventures portfolio of innovative education technology companies. Macmillan New Ventures plans to maintain EBI's Springfield, Missouri location and keep the development teams intact while providing it with operational scale and access to thousands of new customers. Terms of the transaction were not disclosed.
EBI's MAP-Works platform is widely recognized as a leader in student success and retention. Higher education administrators rely on EBI's platform, which integrates with all ERP/SIS systems, for a comprehensive view of institutional performance. MAP-Works provides administrators with an assessment of risk of individual students dropping out, and provides a comprehensive solution of intervening with at-risk students, and managing the intervention across multiple departments and entities across campus. Student retention is an increasingly important issue for educational institutions. Only 56% of college students complete a four-year degree within six years, and only 29% of those who start a two-year degree finish within three years.
In addition to MAP-Works, EBI clients leverage the company's national benchmarking assessments for continuous improvement and in support of accreditation. The company offers over 50 nationally-benchmarked academic and student affairs assessments. A video with EBI founder and CEO Dr. Joseph Pica about the underlying principles of EBI's assessment offerings can be viewed here.
"Retention is the number one issue facing higher education today and we believe EBI has the best platform in the market in MAP-Works," said Troy Williams, Vice President of Macmillan and General Manager of Macmillan New Ventures. "EBI shares Macmillan's mission to improve the quality of the college experience, and has done so for decades with its research-based, data-powered approach. When we met the team, we immediately felt that they were mission-driven to develop products that actually work and make a difference in student outcomes. The company was built by and is run by people who understand success from the inside-out. Now, we get to apply new scale to their proven science. This is about making sure that students everywhere get the attention, and ultimately the education, that they deserve."
With EBI, Macmillan adds to its portfolio of tools that provide administrators and educators with personalized data on individual student performance. And much like other Macmillan New Ventures products, such as PrepU and i>clicker, EBI was developed by educators for educators, another common investment theme for the division. MAP-Works in particular was the result of a unique collaboration between the EBI founders and Ball State University.
"Joining forces with Macmillan will give us the resources to more effectively develop both the MAP-Works platform and our benchmarking services, and better meet our customer's current and future needs," said Dr. Joseph Pica, CEO of EBI. "We spoke with many potential partners and feel that Macmillan uniquely shares our mission and values, and is committed to the long term success of our solutions. I firmly believe that this combination will result in better outcomes for our employees, our clients and their students."