Ingram Content selling VitalSource

The leaders of Ingram Content Group have struck a deal to sell their VitalSource Technologies eduction technology division to an investment firm that has raised $24 billion since being launched in 1999.

Terms of the acquisition of VitalSource by Francisco Partners, which is expected to close this summer, aren’t being disclosed. VitalSource has been under the Ingram Content umbrella since 2006 and has grown from a niche player to an e-learning company that works with about 8,000 institutions and more than 1,000 publishers and resellers to provide digital course materials to 16 million people in every corner of the world.