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May 29, 2012

Pearson buys GlobalEnglish for $90 million dollars

Teaching-English-in-Japan-Education-Pearson" Pearson, the world's largest education company, has bought online business English learning provider GlobalEnglish for $90 million in cash, it announced in a press release on Friday.

The acquisition supports one of Pearson's major priorities, which is to play a much bigger role in helping the two billion people around the world estimated to be learning English as a second or foreign language. GlobalEnglish complements Pearson's adult English language training business, Wall Street English, by enabling Pearson to expand more rapidly into the corporate market with cost-effective and scalable cloud-based Business English software solutions and to offer the world's pre-eminent companies a full suite of relevant products and services.

In 2011 GlobalEnglish generated revenues of approximately $42m with high renewal rates. The company has more than 200 employees across more than 20 countries.

See also:
GlobalEnglish website
Press release on the Wall Street Journal
Pearson buys English testing service in China
Pearson partners with Livemocha

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