Q3 2025 Education Industry Trends

Q3 2025 KEY HIGHLIGHTS

The largest transaction in Q3 2025 and year-to-date was Accenture’s announced acquisition of Aidemy, a Tokyo-based provider of online learning services specializing in AI and digital transformation, for $4.5 billion.

There were 87 financially sponsored transactions in the 1st 3 Quarters of 2025, with an aggregate value of $1.46 billion, representing 26 percent of the total volume and 17 percent of the total value, respectively.

Q3 2025 KEY TRENDS

Total transaction volume in Q3 of 2025 fell 31 percent over Q2 of 2025, from 137 to 95.

Total transaction value in Q3 of 2025 increased more than 4x over Q2 of 2025, from $1.4 billion to $5.9 billion.

Based on volume, the most active market segment that Berkery Noyes tracked in Q3 2025 was Professional Training Services with 22 transactions.

MULTIPLES & VALUE TRENDS

The median revenue multiple from 2024 through the 1st 3 Quarters of 2025 remained the same at 1.8x.

TOP TEN DEALS THROUGH Q3 2025

The top ten deals by value have seen three new additions since our half year report: the previously mentioned acquisition of Aidemy by Accenture, Swiss Life Asset Managers’ acquisition of Grupo Educare, a leading Spanish operator of charter schools, for $234 million, and Nautic Investment’s acquisition of TIME Education, a leading private education services provider in South Korea, for $63 million.

These three deals, with an aggregate value of $4.79 billion, represented 81 percent transaction value in Q3 2025.