Pearson, the world’s leading learning company, is today announcing the acquisition of Stark Holding (“Stark”) from Syntegra Capital.
Stark is a leading provider of education materials including test preparation resources for pupils and teachers. The company is widely recognised for its high quality products, particularly in Maths, German and English. In addition, Stark develops lesson preparation materials for teachers and career advice books. Stark had revenues of approximately €20m in the fiscal year ended 31 July 2010, and has gross assets estimated at €32.6 million.
Pearson’s expertise in learning technologies and high quality digital content combined with Stark’s core business presents a significant opportunity. It also diversifies Pearson’s business in Germany – which currently includes higher education textbooks and digital resources, English Language teaching material and Professional books – broadening Pearson’s capabilities in line with its business elsewhere in the world.
Pearson expects the acquisition to enhance adjusted EPS and to generate a return above Pearson's cost of capital from 2012, its first full year after acquisition. The acquisition is subject to regulatory approval.
John Fallon, chief executive of Pearson's International business, said: "In many countries around the world, we see growing numbers of students wanting help to prepare for important examinations and to make the transition from school to college or University. Stark is already highly respected by German teachers, students and parents; with access to Pearson's digital solutions, it can play a bigger role in helping students to learn more effectively."
For more information
Luke Swanson/ Simon Mays-Smith/ Charles Goldsmith +44 (0)20 7010 2310