LONDON (dpa-AFX) - Pearson Plc (PSON.L, PSO) announced the acquisition of GlobalEnglish from its current ownership group for $90 million in cash. The transaction is subject to approval by GlobalEnglish's shareholders.
According to Pearson, the acquisition supports one of its major priorities, which is to play a much bigger role in helping the two billion people around the world estimated to be learning English as a second or foreign language. Besides, GlobalEnglish complements Pearson's adult English language training business, Wall Street English, by enabling Pearson to expand more rapidly into the corporate market with cost-effective and scalable cloud-based Business English software solutions and to offer the world's pre-eminent companies a full suite of relevant products and services.
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