Corporate Updates

News Corp to acquire Edu Tech Co for $360 million

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A Brooklyn based education technology firm, News Corp, is to acquire 90% of Wireless Generation, for about $360 million (in cash) to expand its presence into the education technology sector. The company reported that on completion of the deal, Wireless Generation will be merged as a unity of News Corp and will be managed by the target company's executives, including founder and CEO Larry Berger, who will retain a 10 percent interest.

Established in 2000, Wireless Generation offers mobile and web software, data systems and professional services that allow teachers to use data to assess student progress and deliver individualised instruction. News Corp is home to Fox broadcast and cable networks, Twentieth Century Fox movie studio, and newspapers such as The Wall Street Journal.

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