Late Nite Labs will serve as a cornerstone in the Macmillan New Ventures portfolio by shifting content delivery beyond the classroom walls and effectively tracking and and improving student outcomes.
New York, NY (PRWEB) March 20, 2013
Macmillan New Ventures, a technology innovation unit of Macmillan Science and Education, today announced the acquisition of Late Nite Labs, an innovative provider of virtual online science labs for secondary schools and higher education institutions. The terms of the transaction were not disclosed. Late Nite Labs’s brand assets, products and team will be absorbed into Macmillan New Ventures operations in New York. Moving forward, Macmillan plans to expand the Late Nite Labs team and provide the company with support and resources to scale operations and extend the product line offerings.
Currently, Late Nite Labs’s online laboratory contains over 100 interactive lab simulations that are utilized by secondary and higher education institutions in the United States and abroad. The growth in higher education online science courses has created an opportunity for Late Nite Labs’s virtual exploration and lab customization experiences, as compared to competitors which offer simple stand-alone science applications.
As schools are faced with growing budget restraints, it has become much more difficult to fund and maintain wet labs on campus. This has caused administrators to look for other options to solve the growing problem. Late Nite Labs can fit seamlessly into science curricula in these institutions. The software drastically reduces the cost of lab supplies and gives students the ability to access virtual labs from anywhere, safely practicing and learning at their own pace.
“Late Nite Labs has successfully designed an affordable and engaging virtual platform that significantly changes the way that educators and students approach scientific labs and experiments,” said Troy Williams, President of Macmillan New Ventures. “The future of education rests on building interactive, data-driven learning experiences. Late Nite Labs will serve as a cornerstone in the Macmillan New Ventures portfolio by shifting content delivery beyond the classroom walls and effectively tracking and improving student outcomes."
Moving forward, as flipped classrooms, blended learning settings and online degree programs become more and more prevalent, the demand for virtual labs or simulation labs will play a larger role throughout a student’s science learning experience. The Late Nite Labs learning solution, not only empowers online learning environments, it enables educators to build their own custom science labs with materials and chemicals that are often hard to acquire in a traditional lab due to cost, space and safety restrictions.
“We are sincerely looking forward to joining forces with Macmillan New Ventures,” said David Jaffe, President and Founder of Late Nite Labs. “The company shares in our vision to generate fresh, engaging and innovative content for students, relentlessly disrupting and improving STEM education through our superior simulation science lab software. I am confident that this partnership will improve our ability to exceed customer expectations and truly move the needle within education technology.”
Late Nite Labs is the third acquisition by Macmillan New Ventures in the past year, adding to a strong portfolio of proven, innovative education technology companies. Macmillan New Ventures acquired Sapling Learning, provider of interactive homework and learning software, in November and EBI MAP-Works, a leading student success and retention platform, last May. Other Macmillan New Ventures businesses include i>clicker, one of the most widely used student response systems in higher education and PrepU, an adaptive learning platform.
Macmillan New Ventures’ acquisitions are part of a broader investment in disruptive innovation at Macmillan Science & Education, one of the largest and best-known international publishing groups in the world and part of the privately owned media group, Holtzbrinck Publishing Group. Macmillan is home to two global science brands - Nature, the most cited science publication in the world and Scientific American, which now has over 5,000,000 unique visitors and 500,000 twitter followers. Other STEM initiatives include Hayden-McNeil’s custom publishing solution which already serves nearly every major science program throughout the U.S. and Nature Education, which recently launched high quality, interactive, born-digital college Principles of Science textbooks. Macmillan has created three innovation units over the past two years: Digital Science, which specializes in providing software solutions for scientists; Digital Education, which invests into and builds consumer-focused educational services, and Macmillan New Ventures.
For more information about Late Nite Labs, please visit https://latenitelabs.com/.
About Macmillan New Ventures
Macmillan New Ventures discovers and develops innovative and proven technologies and new products that drive learning outcomes and engagement. Part of global media company Macmillan, the New Ventures division pushes the boundaries of where, when and how learning happens - teacher to student; student to teacher; and peer to peer. For more information, visit http://www.macmillannewventures.com.
About Late Nite Labs
Late Nite Labs is an education technology company that creates engaging science content for distance and hybrid learning settings. Their virtual lab platform, which contains 150+ experiment simulations, has been an integral part of Biology and Chemistry curriculums at universities, colleges and high schools, since 2006. Developed in partnership with leading universities and publishers, Late Nite Labs takes advantage of the digital environment toward educating students and stimulating critical thinking.
About Macmillan Science and Education
Macmillan Science and Education is a global division of the family owned Holtzbrinck Publishing Group. Recently established, the division is home to the Macmillan businesses which empower learning and discovery through the provision of high quality content and services to scientists, educationalists, students and academics around the world. Operating in over 70 countries with some 5000 employees, the division consists of Nature Publishing Group (NPG), Palgrave, Macmillan Education, Macmillan Higher Education, Macmillan New Ventures, Digital Science, and Digital Education. For more information, please see http://www.macmillan.com