This post comes from eSchool News. In a move that could strengthen competition in the market for online course management systems, educational publishing giant Pearson PLC said its Pearson Education unit is buying eCollege.com, which sells eLearning systems to K-12 and higher-education institutions, in a deal worth approximately $538 million.
Under terms of the transaction, eCollege shareholders will receive $22.45 in cash for each share they own--a 28-percent premium over the company's average closing share price during the previous 90 trading days. In addition, eCollege's Datamark enrollment marketing division will be sold for $41 million to an investor group led by Oakleigh Thorne, eCollege's chairman and chief executive. The deal is expected to close in the third quarter, subject to eCollege shareholder approval.
eCollege, founded in 1996, works with schools to design, build, and support online degree, certificate, diploma, and professional development programs. It provides a full range of on-demand software services, including course management, virtual campuses, and assessment, reporting, and retention monitoring tools. The company also provides a suite of support services, including hosting, help desk, course development, technical consulting, instructional design, and faculty training. Click here to read the rest of this article.
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