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August 16, 2013

Publishing | Online

Pearson advances into digital, reports half year growth

Education-PearsonPearson - no longer a publisher, now a "learning company" - buys into English language learning platform Voxy as part of its ongoing switch from print to digital. The company now has 50% of revenues coming from digital and services, reports The PIE (Professionals in International Education) News.

Leading learning company, Pearson, recently partnered with investment fund Rethink Education to lead an $8.5m investment in Voxy, an English language learning platform with 2.5 million users. The global giant is pro-actively repositioning itself to be embedded in digital delivery and following solid half-year results, bullish about the prospect for growth in the education sector.

The company plans to incorporate Voxy’s products and technology into its suite of services it offers to learners as it continues to transition away from traditional print into digital learning.

The investment comes as the company releases its interim results up to 30 June which show like-for-like revenue was up 1%, driven mostly by the company’s North American Education business and movement in developing markets.

John Fallon, chief executive, said in a statement: “In trading terms, 2013 has begun much as we expected. In general, good growth in our digital, services and developing-market businesses continues to offset tough conditions for traditional publishing.”

Read the full article from The PIE News.

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