Following PowerSchool Holdings Inc.’s multi-billion-dollar acquisition, Vista Equity Partners has retained its minority stake in the company. According to a press release, PowerSchool Holdings Inc., which operates as a cloud-based K-12 education software, was acquired by Bain Capital through a transaction that was valued at an estimated $5.6 billion, with the company paying $22.80 per share in cash. Bain Capital plans to build on PowerSchool’s successful track record, with its software impacting 60 million students and 18,000 customers across more than 90 countries. “PowerSchool is aligned, throughout its entire organization, to its mission to personalize education and improve learning outcomes,” David Humphrey, a partner at Bain Capital, said . “We’ve had the privilege of seeing the leadership team’s dedication to this mission through a world-class product innovation engine.” Bain Capital Partner Max de Groen added, “We are thrilled to support PowerSchool’s mission and growth as it...

President Donald Trump’s 10% tariff on all countries took effect over the weekend, and on Monday, April 7, U.S. stocks fell by at least 20%, entering what is known as a “bear market,” CNN reported . According to Dictionary.com, a bear market — the opposite of a bull market — is a prolonged period of declining stock prices , generally defined as a drop of 20% or more from a recent high, though not a formal measurement. On Thursday, April 3, stock markets had already experienced their worst day since the start of the COVID-19 pandemic in 2020, AFROTECH™ reported. Then came Friday with another record drop. The S&P 500 index, which tracks 500 leading U.S. companies, fell by over 4%, marking a decline of more than 16% from its peak. The Russell 2000 index, which follows smaller U.S. companies, plunged by 5.3%. The tech-heavy Nasdaq Composite index — already in a bear market — had experienced a decline of over 5% on Thursday, marking its worst trading session in more than five years. It...

The global economy is not just shaped by technology or innovation — it’s governed by decisions made behind closed doors, often under the guise of economic strategy. One such decision, the imposition of tariffs, is anything but neutral. It is an instrument of pressure, a marker of priority, and increasingly, a reflection of geopolitical posture. Tariffs have reemerged as a centerpiece of American economic policy, not as quiet fiscal levers but as loud, disruptive statements. The Trump administration’s recent directive — a flat 10% base tariff on all imports and a sweeping set of reciprocal tariffs targeting nearly 90 countries — represents a radical reorientation of U.S. trade policy. In an interconnected world already strained by inflation, global supply chain challenges, and diplomatic fragility, these decisions matter deeply — and immediately. What Are Tariffs? At their core, tariffs are taxes on imported goods, imposed by governments to influence the cost and flow of trade. By...

When the New England Patriots inked Stefon Diggs to a four-year, $69 million deal, $25 million of it guaranteed, it didn’t just make headlines; it marked a directional shift. A franchise long defined by systematic precision and conservative spending is finally reaching a new identity: one shaped around adaptability, controlled risk, and cultural recalibration. Betting On Diggs Production In A Post-Prime Window Diggs is 31 years old, and he’s coming off a torn ACL that sidelined him in Week 8 of the 2024 season. And yet, his numbers from those eight games with the Houston Texans weren’t symbolic—they were substantial. According to ESPN, he tallied 47 receptions for 496 yards and three touchdowns, ranking seventh in total receptions at the time and averaging 62.0 yards per game. C.J. Stroud posted a 104 passer rating and a 73% completion rate when targeting him, evidence of Diggs’ continued ability to elevate a quarterback’s efficiency. Even if the explosiveness has dulled slightly,...

Some Harvard University students will soon be able to attend the institution free of charge, thanks to a new initiative aimed at making education “affordable to more students than ever,” particularly for those from middle-class families. On Monday, March 17, 2025, the Boston, MA-based Ivy League institution announced that starting in the 2025-2026 academic year, students from families with annual incomes of $100,000 or less will receive free tuition, food, housing, health insurance, and travel costs. They will also get a $2,000 start-up grant in their first year and a $2,000 launch grant during their junior year to “help support their transition beyond Harvard .” Additionally, Harvard will be tuition-free for students from families with annual incomes up to $200,000. “Putting Harvard within financial reach for more individuals widens the array of backgrounds, experiences, and perspectives that all of our students encounter, fostering their intellectual and personal growth,” said...

Detroit, MI, native Eminem is joining a list of individuals, such as former NBA players Grant Hill and Chris Webber, to bring a WNBA team to the city, according to Sportico. The 15-time Grammy Award-winning rapper — born Marshall Mathers — is part of a group led by Tom Gores and the Detroit Pistons. “This is an exciting opportunity to welcome the WNBA back to Detroit and bring additional investment and economic activity into the city,” Gores said previously, per AFROTECH™. “For the WNBA, this is home, and our bid represents an unprecedented opportunity for the league to come full circle and effect a long-hoped-for Detroit homecoming. No city is more prepared to embrace the team as a community asset that drives unity and common ground.” According to Sportico, the franchise would play at Little Caesars Arena, which cost $863 million to build and is home to the Pistons and Red Wings. As AFROTECH™ previously reported, Michigan’s largest city had a WNBA team called the Detroit Shock from...

Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Significant layoffs have been a consistent theme throughout the world of work for over three years. Whether you work in tech, media, or finance you have seen the news or know of those who have been impacted. Gone is the employment heyday of the pandemic, when firms across the board ramped up their hiring efforts in 2020 and 2021. This led to people embracing new opportunities and getting bumps in compensation that were not previously available. Unfortunately, when the boosts to businesses and balance sheets went away, firms started laying off their workforces in droves. Initially, the reasons behind the cuts were due to overhiring, and companies were looking to streamline their workforces and management in order to move the organizations more nimbly. The media started to refer to it as a “White-Collar Recession” because while other sectors like hospitality and health services saw employment...

In a move that has sparked considerable debate, PBS announced the closure of its Diversity, Equity, and Inclusion (DEI) office, citing compliance with executive orders issued by President Donald Trump. According to Deadline, the decision was confirmed through a memo from PBS President and CEO Paula Kerger, marking a significant rollback of the organization’s DEI efforts — a trend increasingly observed across public and private sectors as political pressures increase. A Sudden Shift In Strategy As reported by The New York Times reporter Ben Mullin via X (formerly Twitter), the memo revealed that PBS’s DEI office would be shuttered and that key leaders Cecilia Loving, senior vice president of DEI, and Gina Leow, director of DEI, would be departing the organization. Kerger noted, “To ensure that we are complying with the president’s executive order, we have closed our DEI office, and Cecilia Loving and Gina Leow are leaving PBS.” Adding to the dissonance is the fact that this...