It’s been a busy few weeks for Amazon.com’s online education business.
On Thursday, the company announced that it had purchased online school supply company RealEd for $7.3 billion.
The purchase is the largest acquisition in Amazon’s history.
The news was greeted with cheers in the classroom.
It’s the latest in a string of Amazon purchases that has seen the company increase its stock price more than 30% over the past 12 months.
At the time of the acquisition, RealEd’s stock price was $13.24 per share.
It fell back to $12.25 per share in mid-October.
RealEd stock is now down more than 60% from its IPO price of $18.26 per share, according to FactSet.
The purchase by Amazon comes on the heels of a much-publicized move by the online retailer to invest heavily in the education industry.
In February, Amazon bought the online education company Coursera for $1.2 billion.
The acquisition of RealEd follows a $1 billion investment from Alibaba, the online retail giant, in May 2016.
The move to buy a teacher supply company came on the back of the fact that Amazon’s teachers’ unions had called on Amazon to buy the company in order to keep the teachers employed.
This week, the U.S. National Education Association said that it was calling for Amazon to divest from its teachers’ union-run online education marketplace.
The union’s call was supported by the U,S.
Chamber of Commerce, which said that Amazon should be focusing on creating a “better future for teachers” instead of continuing to buy their labor.
“We have been calling for years for Amazon’s divestiture from its student loan servicing business and are pleased that Amazon has responded,” said the U of S’ president, JoAnne Kloppenburg.
“Our membership has been paying close attention to the impact this decision has on our students and we look forward to working with Amazon to ensure that they have the tools they need to succeed in a new era of online learning.”
Amazon’s new purchase of Real Ed comes on top of a $3.5 billion deal the company struck with education technology company Pearson for the company’s online Pearson e-learning business in 2016.