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May 08, 2007

Pearson Buys Harcourt Testing and Education for $950 Million

Pearson has agreed to pay $950 million to acquire Harcourt Assessment and Harcourt Education International. The two groups had sales of $524 million last year and operating profits of $31 million. The deal makes Pearson the dominate company in the testing field in the United States. The remaining Harcourt operations are located primarily in North America. The sale of those companies is expected to occur this summer, and private equity firms are still viewed as the favorite to acquire the remaining assets, as reported earlier.

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