Pearson takes over Schoolnet for US$230mln

Education technology company Schoolnet is now under Pearson after the latter acquired it for US$230 million. Pearson said that Schoolnet's data-based solutions will complement its products and services to help boost student achievement through diagnostic tools and tailored instruction. Schoolnet supports the course, evaluation and other services to help individualise instruction and improve teacher effectiveness. “Being able to offer a connective digital spine for learning has been Pearson's goal for years, Schoolnet has shared our passion, and together we can make that spine more flexible and powerful for schools, teachers and students,” said chief executive of Pearson Marjorie Scardino. Jonathan Harber will continue to serve as Schoolnet's chief executive and as a senior executive at Pearson. The acquisition is set to be neutral to earnings per share (EPS) in the current year. Schoolnet currently serves more than 5 million US pre K-12 students through partnerships with districts and states, supporting about one-third of America's largest urban cities. Shares in Pearson climbed 1.3 percent to 1,145 pence on the announcement.

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