SLIMMING DOWN: Pearson has sold its Mergermarket business to London private equity group, BC Partners, for £382 million (US $622.7 million) in cash. Founded in 1999, Mergermarket has been a source of financial news and analysis and operates in 65 countries under numerous brands. It was acquired by Pearson in 2006 for £101 million.
Pearson CEO John Fallon said in a prepared statement: "The company has flourished under Pearson's ownership but it is not part of Pearson's strategy in global education. The transaction provides us with additional financial capacity to accelerate our push into digital learning, educational services and emerging markets." According to the Financial Times, he also told staff that "it was in truth impossible to see how Mergermarket could contribute to Pearson's ambitions in global education."
These words seem consistent with plans shared by Fallon in an interview with EdSurge, during which he discussed moves to restructure the company to focus on delivering quality education services. On November 15, Pearson unveiled an "efficacy framework" to evaluate whether its products are meeting desired learning outcomes.
