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  "documentTitle": "PowerSchool Holdings, Inc. (PWSC)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2024-04-17 00:00:00",
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      "text": "While PowerSchool may want to create the perception of distance between itself and Intersect, we believe that Intersect is very much a PowerSchool product and meaningful contributor to its sales.",
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      "text": "In March 2021, PowerSchool acquired Hobsons' Naviance and Intersect solutions for $318.9 million. PowerSchool describes Naviance as “the leading college, career, and life readiness solution, reaching over 40% of high school students in the US. Through Naviance, counselors help students prepare for life after high school through career discovery and assessments, counseling curriculum, course planning, and facilitating the college application process”. Supporting the back-end of Naviance is a giant repository for student data. Anything from GPA, race, ethnicity, financial status, career interests, etc. are input by students to better understand the higher-ed opportunities available to them. Intersect is a solution built for higher ed-admissions offices. PowerSchool describes Intersect as, “an innovative admissions solution with exclusive integration with Naviance that helps Higher Education institutions understand student interests and helps make personalized connections during the admission process”.\n\nInterestingly, Intersect is the only product we were able to identify that PowerSchool sells in the U.S. through a third-party reseller, as most of the Company's resale agreements relate to its international business. PowerSchool has an exclusive resale agreement with EAB Global, Inc. another Vista Equity portfolio company, through 2031 (exclusivity may be revoked in 2025). The contract calls for annual sales minimums, which increase yearly. While total sales conducted through EAB aren't disclosed, the commitment minimum for FY23 was $36.8 million, or 5.3% of FY23 sales. In return, PowerSchool covers EAB's costs for selling Intersect.",
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      "text": "the leading college, career, and life readiness solution, reaching over 40% of high school students in the US. Through Naviance, counselors help students prepare for life after high school through career discovery and assessments, counseling curriculum, course planning, and facilitating the college application process — PowerSchool description of Naviance. an innovative admissions solution with exclusive integration with Naviance that helps Higher Education institutions understand student interests and helps make personalized connections during the admission process — PowerSchool description of Intersect.",
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      "text": "Source: PowerSchool acquires Hobson's Naviance & Intersect, PowerSchool FY23 10-K, IPO Prospectus",
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      "text": "PowerSchool Tries To Create Distance From Intersect",
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