logo
  

Pearson To Sell Local K12 Courseware Businesses In Italy And Germany To Sanoma

Pearson Plc. (PSO,PSON.L) said that it has agreed to sell its local K12 Courseware businesses in Italy and Germany to European K12 learning services company Sanoma Corporation for headline consideration of 163 million pounds in cash.

As per the terms of the transaction, Pearson will also enter into an agreement with Sanoma for it to distribute Pearson's English Language Teaching products in Italy.

In March 2021, Pearson announced a strategic review of its International Courseware local publishing businesses. As part of the review, Pearson already completed the disposal of its Brazilian sistemas business in October 2021 for 108 million pounds.

Pearson said Tuesday that it continues to make good progress in the remaining areas of the strategic review and will provide a further update on this in due course.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Specialty athletic retailer Foot Locker, Inc. reported Friday a second-quarter net profit that plunged from last year, hurt by a sales decline amid markdowns. Quarterly sales met Street estimates. The company also trimmed it adjusted earnings and sales growth guidance for the full-year 2022. Google's hundreds of employees have signed a petition sent to executives demanding extension of abortion care benefits to contract workers. The workers also called to halt donations given to anti-abortion politicians and to expand travel benefits. The petition, circulated by the Alphabet Workers Union, has been signed by over 650 employees at Google's parent company Alphabet Inc. Apple Inc. has released an emergency security update noting that some of its iPhones, iPads and Macs had certain vulnerabilities. The tech major said the flaws potentially allow full admin access to devices. The models affected by the issue include iPhone 6S and later models, several models of the newer iPads, and Mac computers running macOS Monterey and above. The flaws also affect the iPod Touch
RELATED NEWS
Follow RTT