Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Disposal

14th Feb 2008 13:00

Pearson PLC14 February 2008 14 February 2008 PEARSON SELLS DATA MANAGEMENT BUSINESS TO M&F WORLDWIDE FOR $225M Pearson, the international media and education company, has agreed to sell itsData Management business to M & F Worldwide Corp. for $225 million in cash. Thetransaction is expected to close in the first quarter of 2008, subject toclosing conditions. The business manufactures scanners, prints forms and provides support servicesfor customers in education (for student testing, classroom attendance and gradereporting) and in commercial and government organizations (for payroll, trainingand customer satisfaction surveys). Headquartered in Eagan, Minnesota, it becamepart of Pearson through the acquisition of National Computer Systems in 2000. In2007, it had external sales of $112 million and operating profit of $25 million. M & F Worldwide is the indirect parent company of Scantron Corporation, whichprovides assessment and survey solutions to education and commercialorganizations. "This is a successful business that will benefit from being part of anorganization focused on scanning technologies across many industries," saidMarjorie Scardino, Pearson's chief executive. "For Pearson, this transactionfurther sharpens our focus on our market-leading education and publishingfranchises." ENDS For more information: Luke Swanson/ Simon Mays-Smith/ Charles Goldsmith +44 (0)20 7010 2310 This information is provided by RNS The company news service from the London Stock Exchange

Related Shares:

Pearson
FTSE 100 Latest
Value8,854.18
Change47.65