Mergers and Acquistions News
Categories: Media & Information Services
November 21st 2011, 15:13PM
Worldwide education company Pearson has today (November 21st) announced it will acquire the Global Education and Technology Group for a cash sum of $155 million (£98 million).
Global Education is a prominent provider of English test preparation services in China, with around 500,000 students taking these examinations every year either in one of the firm's 450 training centres in the Asian nation or online.
Learning English is becoming increasingly common in China and Pearson - an organisation chaired by Glen Moreno - is hopeful of expanding its presence into this rapidly growing market.
This deal - which is scheduled to be finalised before the end of the year - will increase the body's reach in China from eight cities to 60.
John Fallon, chief executive of Pearson's international education business, commented: "Through organic investment and complementary acquisitions, we're learning a lot about the very significant growth opportunities we see in China." 
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