Monday, May 14, 2007

Pearson Buy E-College

On the back of last weeks purchase of some of the Harcourt learning assets that seemed to take many in the industry by surprise, Pearson announced today that they have agreed to acquire E-College an online education provider. (Reuters) The company's product suite fits well with the acquisition strategy laid out by Pearson early last year that has seen the acquisition of PowerSchool, Chancery Software and the Harcourt assets.
Founded in 1996, eCollege provides a range of on-demand software services including course management, virtual campuses, and assessment, reporting and retention monitoring tools. The company, which supports around 180 institutions, with student enrollments of 1.2 million in 2006, generated sales of $52 million and operating profit of $22 million last year.

Shares of the stock went up 6% on news of the deal.

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