Pearson Buys Lumerit Education for $29 Million -- Deal Digest

Date : 11/04/2019 @ 2:59PM
Source : Dow Jones News
Stock : Pearson Plc (PSO)
Quote : 7.44  0.21 (2.90%) @ 1:00AM
After Hours
Last Trade
Last $ 7.44 ◊ 0.00 (0.00%)

Pearson Buys Lumerit Education for $29 Million -- Deal Digest

Pearson (LSE:PSON)
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By Sabela Ojea

 

ACQUIRER: Pearson PLC (PSON.LN), a London-listed learning company.

TARGET: Lumerit Education, LLC, a company valued at $29 million.

PRICE: $29 million.

STATUS: Completed.

RATIONALE: Pearson will use Lumerit's technology to accelerate the growth of its accelerated pathways business. According to the Pearson Global Learner Survey, online education is expected to grow significantly over the next decade.

STOCK MOVE: Shares at 1411 GMT were up 11.40 pence, or 1.7%, at 696.40 pence.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

November 04, 2019 09:44 ET (14:44 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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