Pearson, the international education and information company, today announces that its purchase of the Harcourt Assessment business from Reed Elsevier has received clearance from the U.S. Department of Justice. The transaction is expected to be completed on 28 January 2008.
As a condition for approval, Pearson will divest up to three diagnostic assessment tests and one further test in development.
Pearson announced on 4 May 2007 that it had agreed to acquire Harcourt Assessment and Harcourt Education International from Reed Elsevier for $950 million in cash. The transaction extends Pearson's position as the world's leading education company by adding new capabilities, complementary products and international reach. The acquisition of Harcourt's international education business was completed in 2007.
For more information:
Luke Swanson/ Simon Mays-Smith/ Charles Goldsmith
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