Instructure Completes Acquisition of Scribbles, Expanding K-12 Accreditation and Document Management Capabilities on Its Education Platform

Salt Lake City, July 1, 2024 /PRNewswire/ — Instructure Holdings, Inc. (NYSE: INST) (“Instructure”) today announced that it has completed the acquisition of Scribbles, a leading provider of authentication and records management services to K-12 school districts nationwide. United Statesfrom Alamar Partners. This acquisition expands Instructure’s accreditation network further into K-12, and also provides significant support for district transfer and student mobility.

“Scribbles joins Parchment as a key part of the Instructure ecosystem, providing enhanced capabilities to verify, transmit, and store credentials on the world’s largest credential network,” he said. Steve DalyCEO Instructure. “By providing student enrollment and transfer solutions, we will also help parents, schools, and districts navigate the paths that students and their parents choose.”

Based on Charlotte, North CarolinaThe Scribbles team has about 35 employees. Terms of the transaction were not disclosed.

About Instructure
Instructure (NYSE: INST) supports the delivery of education worldwide and provides students with the rich credentials they need to create lifelong opportunities. Today, Instructure’s ecosystem of products empowers educators and institutions to elevate student success, strengthen the power of teaching, and inspire everyone to learn together. Through our global network of learners, educators, partners, and customers, we continue to deliver on our vision of being the platform that powers lifelong learning and turns learning into opportunity. We invite you to discover more at www.instructure.com.

Forward-looking statements
This press release contains “forward-looking” statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations and benefits of the Scribbles acquisition, growth of the combined company, customer demand and application adoption, and business strategy.

These statements are not guarantees of future performance but are based on management’s expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include: the ability to timely and successfully realize the anticipated benefits and potential synergies of the Scribbles acquisition; the impact of the announcement of the closing of the transaction on our business, employees and suppliers, and on our investors and common stock; risks related to continued economic uncertainty, including high inflation, labor shortages, high interest rates, volatility in foreign currency exchange rates and reduced customer spending; failure to continue our recent rates of growth; the impact of Israel’s war with Hamas on the macroeconomic and geopolitical environment and our business; risks related to future stimulus packages approved by the U.S. federal government; our ability to attract new customers and effectively retain existing customers; the effects of increased usage of, interruptions or performance issues related to, our educational platform; the impact of the pandemic on our business and prospects; our history of losses and the expectation that we will not be profitable for the foreseeable future; the impact of adverse general and industry economic and market conditions; the failure to effectively manage our growth; and changes in spending policies or budget priorities regarding government funding of higher education and K-12 institutions.

These and other important risk factors are described in more detail in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Report on Form 10-Q and other documents filed with the Securities and Exchange Commission and could cause actual results to differ from expectations. All information contained in this press release is as of the date hereof, and Instructure undertakes no obligation to update this information, except as required by law.

Contact with the media:
Brian Watkins
Corporate Communications
Teaching
(801) 658-7525
(email protected)

Contact for investors:
Matthew Wells
Vice President of Investor Relations
Teaching
(email protected)

SOURCE Instructure Holdings, Inc.