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Pearson buys Reed Elsevier's education and assessment businesses for 950 mln usd


Published : Fri, 04 May 2007 17:12
By : Agencies
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LONDON (Thomson Financial) - Pearson PLC has moved to expand its education publishing business with the acquisition of the assessment and education businesses from rival Reed Elsevier PLC for 950 mln usd (477 mln stg).

Reed put the Harcourt Assessment and Harcourt Education International businesses up for sale in February in order to focus on its key publishing markets of science, medical, legal and business to business.

'We have long admired these businesses,' Pearson chief executive Marjorie Scardino said in a statement. 'They bring new intellectual property, capabilities and skills to Pearson.'

tf.TFN-Europe_newsdesk@thomson.com

nh/tc

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