Iowa State University receives $93M majority stake in education company

AMES, Iowa (AP) — The Iowa State University Foundation is receiving a $93 million majority stake in a Massachusetts-based education company - the largest gift in the school's history.

University officials announced ISU's stake in Curriculum Associates on Wednesday, Jan. 11.  Once the company is sold, the university's share will be designated for various projects within the College of Liberal Arts and Sciences, reports the Iowa City Press-Citizen.

ISU Foundation officials say the donors are alumni, but declined Wednesday to identify the couple.

“We are so thankful for the generosity of this donor couple, who are passionate about making a transformational gift to the alma mater,” said ISU President Steven Leath.

Curriculum Associates is an educational publishing and technology industry company. It has more than quadrupled in size since 2012, and was recently named among the fastest-growing private companies by the Inc. 5000 and Boston Business Journal, according to its website.

The gift will count toward the Forever True, For Iowa State campaign to raise $1.1 billion by July of 2020.