![]() The company had been interested in entering the bootcamp space for about two years, says Nathan Schultz, Chegg president of learning services. Last year, it bought WriteLab for $15 million in cash. It is expected to close in the fourth quarter.Ĭhegg had been holding onto $1.1 billion in cash, with executives saying some of the money would go toward acquisition. ![]() ![]() Both companies’ boards of directors have approved the deal. The acquisition will cost Chegg about $80 million in cash for Thinkful, with possible additional payments of up to $20 million in cash or stock based on performance, according to a statement Wednesday. Chegg, a Santa Clara, Calif.-based publicly traded student services company, plans to buy Thinkful, a Brooklyn-based online coding bootcamp.
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