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Pearson continues acquisition drive

 Pearson has acquired the Wall Street Institute language school, in a $92 million (£58 million) cash deal.

The education and media giant bought the Institute from an affiliate of the Carlisle Group and Citi Private Equity. It’s the latest in a string of acquisitions for Pearson, which has recently acquired training company Melorio and the learning systems division of Brazil’s Sistema Educacional Brasileiro.
Last year the Wall Street Institute earned revenues of $60 million. Pearson expects the company to be earnings neutral in 2011 as it invests to expand the business in high growth markets.
The acquisition will reunite Wall Street Institute with Wall Street English, a provider of English training in china, which was Pearson acquired in 2009. 
John Fallon, chief executive of Pearson's International Education business, said: "The growth of English is a powerful global trend. English language skills unlock opportunities for students of any age to progress in their education, their careers and their lives.
"This is an exciting and important move for Pearson that will accelerate our goal of being the world’s pre-eminent provider of English language learning content, technology and services.”
The Wall Street Institute has 340 franchised learning centres in territories across Europe, Asia, the Middle East and Latin America.

Posted on: 29/07/2010

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