FE International Advises Acquisition of Smodin by Adly
2024年7月17日 - 9:30PM
FE International, Inc., the global market leader in mid-market
technology mergers and acquisitions (M&A), announces the
strategic acquisition of Smodin, a leading multilingual
student-focused company using AI to address students’ largest
learning challenges, by Adly, a portfolio operator acquiring,
partnering, and working with SaaS, tech, content sites, and
startups.
Developed in 2017, Smodin leveraged its
internally modeled research and development to stay ahead of the
generative AI craze with its own Large Language Models. Smodin
serves as a supplemental writing and research tool for students,
intended for everyday use and challenging the full integration and
use of AI within the education system.
“Smodin was born out of my personal journey as a
self-taught engineer. I wanted to create a tool that would empower
students the way I wished I had been supported. This passion
project evolved into a powerful AI-driven writing assistant that
helps students across the globe better navigate their academic
challenges,” said Kevin Danikowski, CEO and Founder of Smodin.
This is the third acquisition Adly has made with
FE International acquiring Beambox in 2022 followed by Page Flows
in 2023. This latest purchase continues to build out their suite of
profitable SaaS and tech businesses.
“Investors in edtech are increasingly looking
for stable teams with a proven track record. They understand that
sustained success in this sector requires not just innovative
solutions, but also the experience and reliability to navigate the
dynamic educational landscape effectively,” said Fred Chiang,
Co-Founder and Managing Partner of Adly.
“Smodin perfectly complements Adly's portfolio,
aligning with our commitment to innovation and excellence in
education technology. Its advanced AI-driven capabilities enhance
our offerings, providing students with unparalleled support and
reinforcing our position as a leader in the edtech industry,” said
Shawn Sheikh, Co-Founder and Managing Partner of Adly.
“Our continuing collaboration with Adly
underscores the trust and synergy in this partnership. FE
International's extensive experience in the edtech sector has been
instrumental in facilitating deals like this, enabling us to
continue delivering valuable deals for our clients and top-tier
educational solutions,“ said Randal Stephenson, the Head of
Investment Banking at FE International.
About AdlyWith our immense
growth and product background, our mission is to acquire companies
with untapped potential that we can scale using paid media, SEO,
development, and product expertise. We’ve built a team and network
of experts that we leverage to take adly portfolio companies to new
heights.For more information, visit www.adly.com
About SmodinAI is uniquely
positioned to remove some of the biggest learning roadblocks facing
students and writers today: writer's block, information overload,
and conceptual gaps. Smodin is a multilingual student-focused
company using AI to address students’ largest learning challenges.
Inspired by the biggest challenges students and writers face,
Smodin’s mission is to make writing and learning as easy as
possible. We at Smodin believe education should be fun and simple.
Whether a student struggles with writing, language, or subject
difficulty, we give students the tools they need to get the most
out of their academic journey.For more information, visit
https://smodin.io
About FE InternationalFounded
in 2010, FE is known for its extensive network of pre-qualified
international investors. Its team includes experts in exit
planning, valuation, accounting, legal and more. FE serves clients
worldwide with headquarters in New York and regional offices in
Miami, San Francisco, London, Mumbai, and Warsaw. It was named one
of The Americas' Fastest Growing Companies in 2024, 2023, 2022,
2021 and 2020 by The Financial Times and is also a five-time Inc.
5000 company. For more information, visit
www.feinternational.com.
Contact:
kcothron@kcsa.com