Platinum Equity announced an agreement this week to buy the company from Apollo Global Management, in a deal valued at about $4.5 billion, including debt, reports the Wall Street Journal.

The acquisition comes about a year after McGraw Hill terminated its efforts to merge with fellow publisher Cengage.

Private equity firms have been gobbling up edtech companies (and newspapers)

The effects that private equity deals like McGraw Hill’s will have on textbook users and college bookstores depend on whether firms are looking to make a lot of money in a quick sale or are interested in the steady financial returns more common to the publishing industry

Called “inclusive access” by the industry, the practice prompts students to pay for access codes to digital copies of bundled course materials. Colleges, retailers and publishers are legally required to allow students to opt out of these subscriptions.

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