Coding school General Assembly has agreed to be acquired for $412.5 million in cash by Swiss staffing and workforce development company Adecco.

Why it fits: A majority of GA's revenue by year-end is expected to be business-to-business, whereas it was only 15% two years ago.

Most of that is in terms of re-skilling workers, including a "talent pipeline as-as-service" business whereby GA acts not only a a recruiter, but also as a trainer (with hiring companies paying the freight).

"Last fall we began mapping out on a white board with Adecco how we could work together, so we've been having off and on conversations with them," says General Assembly co-founder and CEO Jake Schwartz. "We'll be run as an independent entity."

ROI: General Assembly raised nearly $120 million in VC funding between 2011 and 2015, with a final round at a post-money valuation of around $440 million. That basically means the last investors like Advance Publications and Wellington Management will do a bit better than break even (due to the "preference stack") while early investors like Maveron and Initialized Capital should make sizable returns (the Series A post-money valuation, for example, was just around $20 million).

New York-based General Assembly was co-founded by Schwartz, Adam Pritzker, Matthew Brimer and Brad Hargreaves. It currently has around 500 employees and campuses in 20 cities.

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

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The positions of key GOP senators on replacing Ruth Bader Ginsburg

Senate Majority Leader Mitch McConnell talks to reporters on Capitol Hill last Thursday. Photo: Chip Somodevilla/Getty Images

With President Trump planning to nominate his third Supreme Court justice nominee by next week, key Republican senators are indicating their stance on replacing the late Justice Ruth Bader Ginsburg just over six weeks out from Election Day.

The big picture: Senate Majority Leader Mitch McConnell (Ky.) has vowed that "Trump’s nominee will receive a vote on the floor of the United States Senate." But Sen. Lisa Murkowski (Alaska) told Alaska Public Media, "I would not vote to confirm a Supreme Court nominee. We are 50 some days away from an election."

Updated 3 hours ago - Politics & Policy

ActBlue collects a record $91 million in hours after Ginsburg's death

A makeshift memorial in honor of Justice Ruth Bader Ginsburg in front of the U.S. Supreme Court on Sept. 19. Photo: Samuel Corum/Getty Images

ActBlue received a record $91.4 million in the 28 hours following Supreme Court Justice Ruth Bader Ginsburg's death, the Democratic donation-processing site confirmed to Axios late Saturday.

Why it matters via the New York Times: "The unprecedented outpouring shows the power of a looming Supreme Court confirmation fight to motivate Democratic donors."