Barry Diller’s IAC/InterActiveCorp which owns Tutor.com will purchase the Princeton Review to bolster its test preparation services and combine the time-honored brand with Tutor.com’s technological platforms. Charlesbank Capital Partners, a Boston private equity firm, has agreed to sell the Princeton Review to IAC/InterActiveCorp, and Tutor.com’s CEO, Mandy Ginsberg, will be running the joint companies.
Diller dropped out of UCLA after one semester, back in 1964.
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Tutor.com matches students with individual tutors online and will expand its services with access to the Princeton Review’s over 150 print and digital books and online resources to help students prepare for ACTs, SATs, achievement tests and other standardized tests. The largest names in the test preparation industry have been Princeton Review and Kaplan, and the acquisition of the former is expected to raise Tutor.com’s profile in the test-prep space. Terms of the deal were not disclosed, and the transaction is scheduled for completion in August.
