Pearson acquires Wall Street English for US$145 million

[Francis Hult]

Proactive Investors

 

Pearson acquires Wall Street English for US$145 million

 

FTSE 100 constituent, Pearson (LSE: PSON) announced that it had agreed to acquire Wall Street English from its parent company, Wall Street Institute for US$145 million.  Wall Street Institute is majority owned by private equity company The Carlyle Group.


Wall Street English provides language training to adults in China through 39 centres in seven cities, including Beijing, Shanghai, Guangzhou and Shenzhen.  Pearson said that it expects the business to generate approximately US$70 million in revenues in 2009, and achieved a compound annual growth rate of "more than 40%" between 2006 and 2008

 

Full story:

http://proactiveinvestors.co.uk/companies/news/5197/pearson-acquires-wall-street-english-for-us145-million-5197.html

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