Pearson has agreed a deal to buy Education Development International (EDI) for £113m to further boost its presence in the training and assessment market.
The publisher, which owns the world’s largest education business and the Financial Times, said yesterday it had already received support for the deal from over 30 per cent of EDI’s shareholders, which includes the firm’s directors.
The group believes the acquisition will further boost its strength in the education and testing business. EDI has a strong reputation for its use of IT to conduct learning programmes and deliver on-screen assessment.
The 200p-a-share cash offer for each EDI share represents a premium of around 61 per cent to the closing price on 4 March, the last business day before the offer period. EDI provides more than 400 vocational qualifications in the UK, offering work-based training for employers and colleges.