PrepMe online test-prep firm acquired by Hobsons division

PrepMe Inc., an online test-preparation startup, has been sold to Naviance, a division of Cincinnati-based education technology provider Hobsons Inc.

Chicago-based PrepMe, founded in 2005 by entrepreneur Karan Goel, quickly grew to be one of the largest online test-prep companies. Terms of the deal were not disclosed. Mr. Goel, a Cincinnati native who earned an economics degree and MBA from the University of Chicago, stepped down last week as CEO.

The business, which helps students prepare for SAT, ACT and PSAT exams, will be run by Eva Prokop, PrepMe’s president who had been recruited recently from Princeton Review Inc. Naviance plans to use PrepMe to create personalized study plans for students.

(Full Story: PrepMe online test-prep firm acquired by Hobsons division)

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