NEW YORK, October 16, 2012: Pearson plc, the world's leading learning company, today announced the acquisition of EmbanetCompass, a provider of online learning services for non-profit academic institutions, from an investor group led by private equity and venture capital firm Technology Crossover Ventures and global education company Knowledge Universe, for $650 million in cash. The transaction is subject to Hart-Scott-Rodino review.
EmbanetCompass, with locations in Chicago, Toronto and Orlando, partners with leading North American non-profit colleges and universities to provide online learning solutions. It provides a full range of services including program design and development, marketing and student recruitment, faculty training and support, student retention and learning analytics, student services (counseling, tutoring, mentoring), technology support and launch funding. The acquisition builds on Pearson's leading position in the rapidly growing online educational services arena.
Morgan Lewis served as legal adviser to Pearson on the transaction. The Morgan Lewis deal team was led by Business & Finance partners Sheryl Orr and Charles Engros and Business & Finance associates Jamie Kim and Daniel Palmadesso and included partners Ron Dreben (Intellectual Property), Harry Robins (Antitrust), Richard Zarin (Tax) and Gary Rothstein (Employee Benefits).
For more information, please see Pearson's press release.