Pearson is top of the class with £140m deal

By Daily Mail Reporter
Updated: 18:43 EDT, 26 April 2011

Publishing giant Pearson has made a further bet on the digital revolution sweeping through classrooms after spending £140million on a US education technology firm.

Founded in 1998, Schoolnet serves computer-based learning programmes to 5million students in a third of America’s largest cities.

The Financial Times and Penguin Books owner has been ramping up its education wing in recent times with a series of takeovers in the UK, India, South Africa and the US. 

Digital revolution: Pearson bought Schoolnet, a US education technology firm

Since selling its controlling stake in financial information group IDC for £1.2billion last year, Pearson has spent around £850million on acquisitions in the learning field.

Shares in Pearson rose 10p to 1141p in the wake of the deal. 

The Schoolnet takeover comes as the US government shows little sign of scrimping on education spending despite its soaring budget deficit.

Washington recently pledged around £10billion to support school improvement across the country.