Houghton Mifflin Harcourt To Acquire Scholastic's Ed Tech Business
Houghton Mifflin Harcourt (HMH) will acquire Scholastic's education technology and
services business for $575 million.
"The acquisition would provide HMH with a leading position in intervention curriculum and services and extend its product offerings in key
growth areas, including educational technology, early learning and education services, creating a more comprehensive offering for students,
teachers and schools," according to an HMH news release.
The deal includes digital curricula for interventions, as well as deployment, assessment and consulting services.
"As HMH drives a learning transformation powered by technology, we believe the ed tech segment of Scholastic will strengthen our offering
in both K-12 and other key growth areas, including digital intervention, early learning, consumer and professional development," said Linda K.
Zecher, president and CEO at HMH, in a prepared statement. "We believe that by diversifying our education portfolio, we will be taking an
important step toward optimizing our growth while also enhancing our resiliency throughout economic and market cycles."
Scholastic will reinvest the cash from the sale in children's publishing and distribution, classroom and supplemental publishing and
Joshua Bolkan is contributing editor for Campus Technology, THE Journal and STEAM Universe. He can be reached at email@example.com.