Publishing group, Pearson, has acquired US professional testing business, Promissor, from Houghton Mifflin for £42 million, bringing with it educational contracts for the UK’s largest educational vocational awarding body, City and Guilds.
Pearson will combine Promissor with its existing professional testing company, Pearson VUE, expecting the purchase to be earnings enhancing from 2007.
Commenting on the deal, Robert Whelan, Pearson VUE’s president said: “Promissor’s market position was earned and maintained through a commitment to quality and outstanding service that is shared by Pearson VUE.”
He continued: “The two businesses are a natural fit and we believe that our combined scale and capabilities will realise tremendous benefits for our customers.”
Earlier this year, Pearson said that it expects to report “significant” underlying growth in sales and earnings per share for 2005, with the owner of the Financial Times and Penguin Books claiming trading was good last year, with 2006 looking to be “another good year (see Pearson Enjoys Strong 2005).”
Pearson revealed that it enjoyed strong trading at the end of 2005, helped by a good performance in its key North American education market and group across the rest of the business.
Related Links
