Pearson expands in fast-growing Chinese market

Financial Times publisher Pearson Group is expanding its presence in China with the acquisition of educational exam preparation services provider, Global Education and Technology.

Financial Times publisher Pearson Group is expanding its presence in China with the acquisition of educational exam preparation services provider, Global Education and Technology.

Global Education, a NASDAQ listed company, is being bought for a net $155m in cash. Pearson is offering $11.006 per American Depositary Share of Global Education, which values the target company at $294m but, the net acquisition cost to Pearson works out a lot lower, thanks to Global Education's cash pile of around $139m.

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