Penguin publisher Pearson buys EmbanetCompass for $650 mn

17 Oct 2012

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Pearson, the publisher of Penguin books and the Financial Times, yesterday acquired US online educational services company EmbanetCompass from an investor group led by Technology Crossover Ventures and Knowledge Universe, for $650 million in cash.

The acquisition will help Pearson to expand its presence in the North American online learning market.

The acquisition is the second-largest for Pearson after it purchased Harcourt Assessment and Harcourt Education International in 2007 for a total of $950 million.

Founded in 1995, EmbanetCompass is the largest provider of technology-enabled services to traditional non-profit post-secondary educational institutions seeking to launch online degree programs across degree levels and disciplines.

EmbanetCompass functions through leading non-profit colleges and universities in North America to provide fully online learning solutions for more than 100 university programmes. It provides a full range of services including - programme design and development, marketing and student recruitment, faculty training and support, data-driven student retention and learning analytics; student services, technology support and launch funding.

Institutional services are one of the fastest growing areas of the US higher education market. Out of 6,700 degree-granting institutions in the US, approximately 175 institutions engage third-party vendors to power online programmes.

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