Dumbo's Wireless Generation Acquired by News Corp for $360M


News Corporation yesterday announced an agreement to acquire 90% of Wireless Generation, a privately-held Dumbo-based education technology company for approximately $360 million in cash. News Corp. chairman and CEO Rupert Murdoch said in a statement that Wireless Generation is at the forefront of individualized, technology-based learning. As such, it is poised to revolutionize public education for a whole new generation of students. Founders of Wireless Generation, Greg Gunn and Larry Berger established the business in 2000 and has 400 employees (one of Dumbo’s largest employer) and delivers mobile and Web software, data systems and professional services designed to empower teachers.

The NY Times calls the announcement “all the more interesting because just two weeks ago, [New York City’s schools chancellor] Mr. Klein said he would leave the chancellor’s job at the end of the year to become an executive vice president with News Corporation, charged with pursuing business opportunities in the education marketplace.”

This acquisition follows the Drop.io asset acquisition by Facebook last month, and the former Waterfront Media merger with Revolution Health in 2008.

Wireless Generation
55 Washington Street, Suite 900
Brooklyn, NY 11201