Pearson plc has acquired EmbanetCompass for $650 million in cash.
EmbanetCompass provides online learning services for nonprofit academic institutions, including program design and development, marketing, student recruitment and faculty training. The company was owned by private equity and venture capital firm Technology Crossover Ventures and global-education company Knowledge Universe. The deal is subject to review. EmbanetCompass has offices in Chicago, Orlando and Toronto.
Pearson, based in London, provides print and digital learning materials and services for students.
Morgan Lewis & Bockius LLP was legal counsel to Pearson. Morgan Lewis also recently advised Reed Elsevier on its sale of Variety to Penske Media Corp. and the New York Times Co. on its $300 million sale of the About.com group to IAC/Interactive Corp.
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