The acquisition was made by Vista Equity Partners for $850 million. Vista has been expanding PowerSchool's software suite since it originally purchased the company in 2015 for $350 million. In its deal with FIS, Vista will now be able to combine SunGard K-12’s enterprise resource system with PowerSchool’s Unified Classroom platform.
In an announcement, PowerSchool CEO Hardeep Gulati said:
The success of improving student growth, empowering educators and streamlining school operations hinges on technology applications working seamlessly together. With this acquisition, PowerSchool is able to provide a comprehensive, unified suite of applications delivering holistic and real-time analytics to impact student performance, improve teacher effectiveness, provide insights into budgets, and optimize investments across all district initiatives.