An SEC filing surfaced this morning, showing that Chegg has made a yet unannounced acquisition for at least $1.1 million worth of common stock. The company that Chegg acquired is called Flux Software Co. according to the filing, or shortly ‘Flux’. To be clear, we’ve confirmed that Chegg did not purchase enterprise software company Flux.
We’ve confirmed with a Chegg spokesperson that, rather, the company snapped up a mobile app development firm called Flux Software Co. as well as a web-focused software development studio called 3D3R, although I gather these are actually two separate entities that share the same people.
His software development and consultancy firm 3D3R has done work for a number of big companies, including Yahoo, Nokia, Current TV, Boxee, Metacafe, Badoo and Alcatel-Lucent.
You can learn more about the services 3D3R provides here.
In a statement, Chegg President & CEO, Dan Rosensweig states:
Chegg is always striving to offer students the very best tools to save time, save money and get smarter. In that spirit, we recently acquired Flux Software Co./3D3R, which is an incredible engineering and design team focused on helping Chegg deliver the dynamic user experience students expect today.
Pontarolo declined to discuss the specific terms of the acquisition and to provide more details about the reasoning behind the deal.