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Cengage Group

Cengage Group is a global education technology company that provides affordable products and services to millions of students, educators, and institutions worldwide. Founded through the 2007 acquisition and rebranding of Thomson Learning, the company traces its heritage back to the early 1900s via predecessor entities in and . It rebranded from Cengage Learning to Cengage Group in 2021 to reflect its expanded focus on edtech solutions across , K-12, professional training, libraries, and workforce development. Headquartered in , , until its recent transition to a fully remote model in 2025, Cengage Group operates globally with offices in multiple countries and serves more than 89 million learners annually. Under the leadership of CEO Michael E. Hansen since 2012, the company has emphasized digital innovation, achieving three consecutive years of revenue and profitability growth by fiscal 2024. Key offerings include subscription-based platforms like Cengage Unlimited, which has enabled over 5.8 million students to save nearly $780 million on course materials since 2018, as well as tools such as MindTap for and Infosec for cybersecurity training. In 2023, Cengage Group received a $500 million strategic investment from to further accelerate its growth in digital education. With digital sales exceeding $1 billion, the company continues to drive accessible, technology-enabled education to bridge skills gaps and support .

Overview

Founding and Corporate Structure

Cengage Group traces its origins to July 24, 2007, when it was established as Cengage Learning following the acquisition of Thomson Learning's , reference, training, and professional assets by funds advised by and Capital Partners from the for $7.75 billion. This transaction marked the formation of the company as a standalone educational publisher focused on learning solutions. The company's heritage extends over 100 years, rooted in early 20th-century textbook and media firms, including South-Western Publishing founded in 1903, which evolved through mergers and expansions into modern edtech. Formerly headquartered in , , from 2014 until its transition to a fully remote model in 2025—which included closing offices in , , and , leaving only one U.S. office in —Cengage Group employs approximately 4,500 people worldwide as of 2025. In August 2021, the company rebranded from Cengage Learning to Cengage Group to emphasize its expanded role in edtech across K-12, higher education, and professional sectors. Cengage Group operates as a privately held entity backed by , with significant involvement from investors such as since its inception and a $500 million investment from Apollo Funds in April 2023 to support digital initiatives and reduce debt. This structure has enabled sustained growth in while maintaining focus on learner engagement.

Markets and Operations

Cengage Group primarily serves the market, which represents its largest segment, alongside K-12 education, and workforce development, and services. In , the company focuses on digital solutions for and learners, while its K-12 offerings target curricula through partnerships and content adaptations. The and workforce development segment emphasizes skills training for adult learners and employers, including cybersecurity and upskilling programs, and services provide databases and e-resources for public and academic institutions. The company's has shifted heavily toward products, which accounted for 79% of its business in 2025, supported by recurring subscriptions that help mitigate economic volatility through stable renewals. This emphasis reduces dependency on print materials and promotes affordable access via subscription-based platforms. Analysts project 3% growth for 2026, driven by stabilizing U.S. enrollment and continued demand in . Globally, Cengage Group operates in over 125 countries, serving millions of learners with a focus on equitable digital access to educational content. Its international operations include tailored offerings for English language learning and workforce training outside the U.S., enhancing reach in emerging markets. Financially, Cengage reported growth in fiscal year 2025, with adjusted cash revenue of $1.54 billion (up 2% year-over-year) and adjusted cash EBITDA of $530 million, reflecting resilience in core segments. As of mid-2025, the company's market capitalization stood at approximately $1.47 billion.

Products and Services

Digital Learning Platforms

Cengage Group's digital learning platforms encompass a suite of online tools designed to enhance , K-12, and library-based learning through interactive, adaptive, and features. These platforms integrate eBooks, assessments, , and personalized content to support educators and students across various disciplines. MindTap serves as a core interactive digital platform tailored for courses, offering paths that adjust to individual student performance, along with resources such as videos, simulations, and interactive exercises. It enables instructors to customize course content, embed notes, and track progress via real-time , fostering deeper and mastery of concepts. For instance, students can access full eTextbooks, complete assignments, and receive targeted within a unified environment. WebAssign functions as an online and tool primarily for disciplines, providing auto-graded assignments, secure testing, and unlimited practice opportunities to build conceptual understanding. It supports a wide range of exercise types, including videos and algorithmic questions, allowing educators to deliver precise, discipline-specific content in , physics, , and related fields. The platform's flexibility ensures accurate grading and immediate results, helping students in virtual learning settings. In 2024, Cengage introduced the GenAI-powered Student Assistant, initially in beta in the fall, which expanded in 2025 to provide access to over 1 million students. This tool uses generative AI to guide students through processes, offering tailored explanations, summaries, and practice problems without relying on external sources, thereby aligning directly with instructional goals. It aims to boost engagement and outcomes by empowering learners to develop their own solutions. National Geographic Learning, integrated within Cengage's offerings, delivers K-12 resources focused on English language teaching and literacy development, incorporating real-world National Geographic content like images, videos, and stories to motivate young learners. These materials support skill-building in reading, , and through digital platforms like , which provide interactive activities for classrooms worldwide. Gale databases form a key component for library research, offering comprehensive collections of academic journals, magazines, eBooks, and for interdisciplinary inquiries. Users can access reliable, peer-reviewed content with advanced search tools to support scholarly and educational research across subjects. The adoption of these digital platforms accelerated during the , as Cengage provided free access to materials and resources to facilitate the shift to remote learning. This response highlighted the platforms' scalability in supporting hybrid and online education models. Access to these tools is available through subscription models like Cengage Unlimited.

Subscription and Access Models

Cengage Unlimited, launched in August 2018, is the company's flagship subscription service designed for U.S. students, providing unlimited access to over 7,000 eTextbooks and other digital products across more than 160 disciplines, including online homework platforms, study tools, and assessments. Priced at $149.99 for a four-month semester term (or $229.99 for 12 months), the service bundles these resources into a single, affordable package, allowing students to access materials on-demand without purchasing individual items. This model integrates seamlessly with platforms like MindTap to deliver a unified learning experience. As of 2024, Cengage Unlimited has reached over 6 million students, enabling cumulative savings of more than $780 million on course materials compared to traditional individual purchases. These savings can reach up to 70% for students requiring multiple resources per semester, significantly enhancing affordability and reducing financial barriers to . The service's adoption reflects its role in addressing textbook cost concerns, with rapid growth from one million subscriptions within seven months of launch to sustained expansion amid rising demand for digital alternatives. Cengage's subscription model has evolved from a print-dominant approach—where physical textbooks comprised the majority of sales—to a digital-first strategy, with digital products representing approximately 79% of revenue in fiscal 2025 and anticipated to reach 90% by the end of the . This shift emphasizes bundled digital offerings, combining eBooks with interactive study tools and assessments to support flexible, , while phasing out reliance on one-time print purchases in favor of recurring access. Accessibility is a core component of Cengage Unlimited, featuring inclusive design elements such as text-to-speech functionality, adjustable fonts and colors, alternative text for images, and compatibility with screen readers to accommodate diverse learners, including those with visual or hearing impairments. The service supports mobile access via apps and browsers, with offline download options for eTextbooks and resources, ensuring equitable participation regardless of device or connectivity.

Workforce Development Solutions

Cengage Group's workforce development solutions focus on providing professional and upskilling programs tailored to career advancement in high-demand industries. Through its Cengage Work division, the company offers on-demand, flexible learning options that equip individuals with practical skills for employment, emphasizing alignment between and job market needs. A key component is ed2go, a provider of online career courses in fields such as , healthcare, and . Originally acquired by Thomson Learning in 2004 and rebranded as ed2go, it delivers instructor-facilitated programs designed for adult learners seeking professional certifications and skill enhancement. These courses cover topics like medical coding, , and , enabling participants to gain credentials recognized by industry employers. In 2022, Cengage Group expanded its offerings by acquiring Infosec Institute for $190.8 million, integrating its cybersecurity education and certification programs into the workforce portfolio. Infosec provides specialized training for roles in cybersecurity, including preparation for certifications like Security+ and (CEH), serving over 5 million learners across 185 countries. This acquisition strengthens Cengage's ability to address critical talent shortages in IT security by combining Infosec's bootcamps and skills assessments with broader tools. Launched in February 2023, Ready to Hire is a workforce upskilling platform that partners with employers and educators to build talent pipelines for in-demand sectors like healthcare and IT. The platform offers role-aligned training programs, including micro-credentials and verified skills assessments, to prepare learners for immediate job placement and reduce hiring timelines for organizations. By facilitating customized upskilling initiatives, it helps bridge skills gaps, such as those in cybersecurity through integration with Infosec content. Overall, these solutions serve professional markets by delivering micro-credentials and on-demand training that directly support employment outcomes, with programs like ed2go and Ready to Hire contributing to Cengage's efforts in reskilling amid evolving workforce demands. For instance, ed2go's advanced training courses have received (ACE) credit recommendations, enhancing their value for progression. This focus positions Cengage as a partner in aligning educational resources with employer needs for sustainable talent development.

History

Origins and Thomson Learning Era

The origins of what would become Cengage Group trace back to the early , rooted in independent firms focused on newspapers, textbooks, and educational materials. One foundational entity was South-Western Publishing, established in as a of the Southwestern Company, which initially distributed Bibles and religious literature before expanding into textbooks. These early ventures laid the groundwork for specialized , emphasizing print-based resources for and professional training. In 1979, the , a Canadian , entered the educational sector by acquiring Wadsworth Publishing from Prentice-Hall, marking its first significant foray into textbooks and professional books. This acquisition provided Thomson with a foothold in North American markets, where Wadsworth had built a reputation for social sciences and texts. Throughout the , Thomson aggressively expanded its portfolio through a series of targeted acquisitions, including South-Western Publishing in 1981 for and economics content, in 1985 for reference and library resources, Delmar (which incorporated the imprint for vocational training) in 1987, Heinle for language learning materials, Brooks/Cole for and textbooks, and Course Technology in 1997 for and IT education. These moves consolidated Thomson's position as a major player in print-dominated , serving diverse disciplines from to technical fields. By the turn of the , internal restructuring at led to the formal creation of Thomson Learning as a dedicated division in 2000, integrating the acquired imprints under a unified structure focused on educational content and services. During this period, the division remained predominantly oriented toward print textbooks and supplementary materials, though early forays into digital tools emerged, such as the 2007 acquisition of Aplia Inc., an online homework platform designed to enhance student engagement in and other subjects. This era of consolidation under Thomson set the stage for the subsequent independence of the learning division as Cengage Learning in 2007.

Formation as Cengage and Early Growth

In 2007, , a division of , was spun off and acquired by private equity firms , DLJ Merchant Banking Partners, and Investment Board in a valued at $7.75 billion, marking the formation of an independent entity initially named Cengage Learning. This transaction separated the , professional, and K-12 operations from Thomson's broader portfolio, allowing the new company to focus exclusively on educational content and services. The rebranding to Cengage Learning was announced shortly after, emphasizing a commitment to innovative learning solutions in a rapidly evolving digital landscape. Following its establishment, Cengage pursued early growth through strategic acquisitions to bolster its and K-12 offerings. In 2008, it acquired the college assets of Houghton Mifflin for approximately $750 million, integrating key textbooks and digital resources that strengthened its position in the U.S. postsecondary market. By 2011, Cengage expanded into school-level by purchasing the school unit of the , which included specialized content in , , and , enhancing its K-12 and English Language Teaching resources. These moves diversified Cengage's portfolio beyond traditional print materials, incorporating and assessment tools. The company's growth strategy during this period emphasized international expansion and an initial shift toward products to address global demand for accessible . Cengage established operations in over 20 countries, including significant investments in emerging markets like and , where it adapted content for local curricula and languages to capture a larger share of the worldwide sector. Concurrently, early digital initiatives, such as the launch of online platforms like MindTap in 2012, represented a pivot from print dominance, aiming to provide interactive, experiences amid rising penetration in . Despite these advancements, Cengage faced mounting financial pressures from the incurred in the 2007 , leading to a voluntary Chapter 11 filing in 2013. The was intended to reduce approximately $4 billion in long-term while continuing operations uninterrupted, highlighting the challenges of leveraged acquisitions in a transitioning industry. This event underscored the vulnerabilities of the company's aggressive expansion model during its formative years.

Major Acquisitions and Expansions

In 2015, Cengage Learning made two significant acquisitions to advance its digital education tools, marking the peak of its acquisition activity during this period. The company acquired Pathbrite, an ePortfolio platform designed to help educators and students collect, organize, and showcase their work for purposes including teacher training, , and . This integration enabled Cengage to offer enhanced tools for tracking learning outcomes and demonstrating competencies in educational settings. Additionally, Cengage acquired Learning Objects, a provider of management systems and online assessment solutions, which further expanded its capabilities in personalized instruction and content delivery. Building on this momentum, Cengage continued its focus on digital tool integrations in 2016 by acquiring WebAssign, a platform specializing in online assessments and homework management for , particularly in disciplines. WebAssign's customizable features allowed instructors to create tailored assignments and provide instant feedback, aligning with Cengage's strategy to deepen its presence in interactive learning environments. This acquisition complemented the earlier 2015 purchases by adding robust assessment capabilities to Cengage's growing suite of digital resources. A notable expansion into professional training occurred in 2022 when Cengage Group acquired Infosec, a cybersecurity education provider, for $191 million. The deal targeted the burgeoning demand for non-technical IT skills training, incorporating Infosec's boot camps, certifications, and skills assessments into Cengage's workforce development offerings to address skill gaps in cybersecurity. In January 2025, Cengage acquired Visible Body, a leader in interactive 3D anatomy and physiology models and software, to enhance its science education offerings across higher education and professional training. These acquisitions collectively supported Cengage's broader digital transformation, enabling a shift toward subscription-based, technology-driven models. By 2025, Cengage had completed five major acquisitions since , significantly enhancing its platforms and professional portfolios while emphasizing scalable, tech-enabled solutions. This strategic growth underscored the company's commitment to in edtech, with the 2015 deals representing the height of expansion efforts.

Financial Restructuring and Digital Shift

In 2013, Cengage Learning faced mounting financial pressures from a high debt load of approximately $5.8 billion, prompting the company to file for Chapter 11 protection on July 2 as part of a prepackaged agreement with a majority of its lenders. This process aimed to eliminate over $4 billion in funded debt, providing a stronger and greater for future investments. The U.S. Bankruptcy Court for the Southern District of New York confirmed the reorganization plan on March 13, 2014, allowing Cengage to emerge from on April 1 with reduced debt obligations and access to up to $1.75 billion in new financing, including a $1.5 billion and a $250 million revolving credit facility. Under the leadership of CEO Michael Hansen and a newly assembled executive team, the company shifted strategic emphasis toward digital products and services to adapt to evolving demands, marking a pivotal turn from traditional print-based models. The restructuring laid the groundwork for innovation in subscription-based offerings, culminating in the 2018 launch of , a digital subscription service providing students with unlimited access to over 22,000 eTextbooks, online homework platforms, and study tools across more than 70 disciplines for a flat fee of $119.99 per semester or $179.99 annually. This model rapidly gained traction, contributing to subscription revenue growth by offering cost savings to students—averaging 70-80% compared to purchasing individual materials—and enabling scalable digital adoption among institutions. By fostering recurring revenue streams, helped stabilize financial performance amid market shifts. The in the early 2020s accelerated Cengage's , as remote learning demands surged and institutions prioritized online platforms, boosting digital net sales by 6% to $917 million in and elevating digital products to 74% of total revenue. This momentum continued, with digital solutions comprising 79% of revenue by , supported by a large base of institutional renewals and recurring subscriptions that provided against . In April 2023, Apollo Funds invested $500 million in convertible , bolstering Cengage's capacity for technology enhancements and in areas like AI-driven learning tools. These efforts yielded sustained financial recovery, including three consecutive years of adjusted cash through fiscal year 2024, reaching $1.54 billion—a 5% increase from the prior year—driven by digital and workforce segments. For fiscal year 2025, adjusted cash held steady at $1.54 billion with 2% underlying , while adjusted cash EBITDA rose 15% to $530 million, reflecting stable renewal rates and operational efficiencies.

Organization

Leadership and Governance

Cengage Group's leadership is headed by Michael E. Hansen, who has held the position since September 2012 and also serves as a director on the board. Under Hansen's tenure, the company has prioritized and edtech innovation, including a shift toward AI-integrated learning solutions to enhance outcomes and operational efficiency. This strategic direction builds on leadership changes from the 2008-2016 period, when the executive team restructured to focus on digital platforms amid the company's emergence from financial challenges. Key executives support this vision through specialized roles in finance and technology. The position transitioned in early 2025, with Dean Tilsley appointed to succeed Bob Munro, who had served since 2019; Tilsley's background in financial strategy at global firms aligns with Cengage's emphasis on sustainable growth in digital education markets. Complementing this, Jim Chilton drives and initiatives, overseeing the integration of advanced technologies like -powered into learning tools, a focus intensified since his leadership began in the early . These roles underscore the executive team's commitment to leveraging technology for scalable, inclusive education solutions. Governance at Cengage Group is structured around a that includes representatives from its stakeholders, reflecting the company's ownership dynamics following Apollo Global Management's $500 million investment in 2023. The board, chaired by Eric Sondag since 2014, comprises seven members, including Apollo Partner Itai Wallach (director since 2023) and other independent directors such as Alexandra Bernadotte and Dr. Michael L. Lomax, providing oversight on strategic decisions like digital expansions and financial restructuring. This composition ensures alignment with investor priorities while guiding long-term edtech innovation. Complementing formal governance, Cengage's culture is anchored in its , a set of guiding principles emphasizing the power of learning, integrity, and collaboration, which fosters a positive employee experience through initiatives like the annual Ethos Awards recognizing cultural contributions. In terms of diversity, Cengage Group earned the Equality 100 Award from the Foundation's 2025 , marking the fifth consecutive year of perfect scores for LGBTQ+ workplace inclusion through policies on non-discrimination, benefits, and employee resource groups. This recognition highlights the company's broader commitment to equitable and inclusive leadership practices.

Brands and Imprints

Cengage Group maintains a diverse portfolio of over 20 brands and imprints, each specializing in targeted educational content and digital resources, unified under the company's platform for seamless delivery across , professional training, and library markets. These imprints, many originating from strategic acquisitions during the Thomson Learning era and beyond, cater to specific disciplines while emphasizing interactive and accessible learning tools. In , key imprints include Brooks/Cole, which focuses on , , , and related fields through innovative textbooks and digital supplements. Heinle specializes in language learning and teaching materials, offering resources for global communication and . South-Western provides content in , , and career , supporting foundational and advanced coursework. Delmar targets , , trades, and technical with practical, hands-on learning solutions. Course Technology delivers materials in , , and , aiding skill-building in dynamic tech environments. For reference and library services, stands as a cornerstone imprint, offering extensive databases, eBooks, primary sources, and research tools that support , , and K-12 libraries in and analysis. 's sub-imprints, such as Macmillan Reference USA and , enhance its catalog with authoritative reference works in , , and sciences. The professional segment features , dedicated to , , and with comprehensive training programs for industry . Chilton provides automotive repair manuals and diagnostic resources, enabling technicians and enthusiasts to maintain vehicles through detailed, model-specific guides. ed2go offers online courses for adult and workforce upskilling in fields like , IT, and . Infosec focuses on cybersecurity training, delivering certifications and skills development to address evolving digital threats. Additional imprints include 4LTR Press, which produces concise, visually engaging textbooks designed for modern student workflows in subjects like and . Aplia supplies interactive applications and assignments, particularly in and social sciences, to reinforce learning through real-time . Learning integrates science, , and content for K-12 and , drawing on exploratory narratives to foster global awareness.

Global Reach and Employees

Cengage Group maintains a global footprint with office hubs in 13 cities across the , , , and , including key locations in the United States (such as Boston, Massachusetts, and San Francisco, California), the (Andover, Hampshire), (Noida), and (South Melbourne, Victoria). These hubs support operations in a distributed model, serving millions of learners and institutions in more than 125 countries and territories worldwide. The employs approximately 5,000 people globally, with employees residing across nearly 40 countries. Following the shift to during the , Cengage Group has emphasized hybrid and fully remote models; in November 2025, it announced the closure of its headquarters, as well as offices in , , and , , to transition to a fully remote workplace, enabling greater flexibility for its distributed workforce. As part of its initiatives, Cengage Group was recognized as one of the top 100 large U.S. companies in the 2024 Glassdoor Employees' Choice Awards for Best Places to Work, earning an overall rating of 4.3 out of 5 based on employee reviews highlighting inclusive culture and opportunities. Cengage Group's regional focus remains strongest in the United States for solutions, where it supports a significant portion of its learner base through digital platforms and services. The company is experiencing growth in the region, particularly in K-12 markets, driven by expanding demand for .

Recognition and Developments

Awards and Rankings

In 2025, Cengage Group received multiple accolades recognizing its contributions to and workplace excellence. The company's division, in particular, earned significant honors in the EdTech Cool Tool Awards, with Research Complete winning in the Best / Tools category for its comprehensive database supporting and . Similarly, Literature Resource Center was named a finalist in the Best Solution category, highlighting its role in providing curated literary resources. Additionally, Presents: secured a win for Best Online Courses/MOOCs Solution, underscoring Cengage's innovation in accessible platforms. Cengage Group was also ranked 41st among the World's Top EdTech Companies of 2025 by TIME and , with a score of 88.2 out of 100, placing it among leading global players in the education technology sector based on criteria such as , user reach, and market impact. In the library-focused 2025 Modern Library Awards from LibraryWorks, earned four awards for the fourth consecutive year, including specific recognition for Thorndike Press in Youth Large Print for its accessible reading materials and Presents: for enhancing adult learning through integrated online courses. Beyond product innovations, Cengage Group was honored with the 2025 Equality 100 Award from the Foundation's , achieving a perfect score of 100 for the fifth year in a row due to its inclusive policies supporting LGBTQ+ employees. In 2024, the company was named one of the top 100 Best Places to Work for large U.S. companies by Glassdoor's Employees' Choice Awards, reflecting high employee satisfaction with a 4.3 out of 5 rating based on culture, benefits, and growth opportunities. These recognitions affirm Cengage Group's leadership in fostering equitable and innovative educational environments.

Recent Reports and Innovations

In 2025, Cengage Group released its Graduate Employability Report, highlighting significant gaps in the alignment between higher education and employment outcomes. The report, based on surveys of 865 full-time hiring managers, recent 2025 and 2024 graduates, and educators, revealed that only 30% of 2025 graduates secured full-time jobs in their field of study, down from 41% the previous year, marking the toughest entry-level job market in five years. Additionally, 33% of recent graduates viewed their education as worth the cost, underscoring widespread ROI concerns amid rising tuition and economic pressures. A key finding emphasized that 48% of graduates felt unprepared for entry-level roles, with 56% attributing this to deficiencies in job-specific skills, while only 51% expressed confidence in applying AI tools during job searches. To address these employability challenges, Cengage has integrated generative innovations into its platforms. In August 2024, launched the Student Assistant in beta, a GenAI-powered tool embedded in MindTap for select titles in disciplines like , , and , designed to provide personalized guidance, just-in-time feedback, and support without directly supplying answers. By April 2025, this tool expanded to over 100 products, reaching more than one million students and incorporating new instructor insights to enhance teaching efficacy. Complementing this, Cengage's Ready to Hire program, launched in 2023 under Cengage Work, focuses on workforce skills development through train-to-hire initiatives in high-demand sectors such as healthcare, IT/cybersecurity, and advanced , partnering with employers to build talent pipelines and upskill learners. In August 2025, it collaborated with to target manufacturing skills gaps, offering employer-funded training for job-ready candidates. These developments reflect Cengage's ongoing commitment to bridging employability gaps through . The 2025 stresses the need for -enhanced tools to meet employer demands for technical proficiency, with 84% of students recognizing skills as essential for future careers. In response, Cengage continued investing in , including the October 2025 launch of MindTap for Introduction to Artificial Intelligence and expanded cybersecurity/ training via partnerships, aiming to equip learners with practical, market-relevant competencies. On November 4, 2025, Cengage Group announced an expanded collaboration with (AWS) to develop scalable solutions for personalized instruction at scale. This forward-looking approach positions Cengage to mitigate the skills mismatches identified in its research, fostering greater alignment between education and workforce needs.

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