Pearson Moves Deeper Into Online Education With $650-Million Purchase
Chronicle of Higher Education – Katherine Mangan
17-Oct
Pearson announced a major acquisition on Tuesday that will deepen its commitment to becoming a major player in online education. The company, which owns the Financial Times and the Penguin Group book publisher, shelled out $650-million in cash to buy EmbanetCompass, a business that provides support services to colleges and universities that are moving their programs online. Don Kilburn, chief executive officer of Pearson Learning Solutions, said the acquisition would allow the company to extend its reach in online education and to take advantage of the trend away from print. “As more and more schools face budget cuts, they’re looking to online education as a way to increase access, achievement, and affordability,” he said. “We see this as a strong area of growth.”
Tagged EmbanetCompass, Higher Education, online learning, Pearson
