Pearson PLC acquires Certiport For $140M
5/16/2012LONDON (Dow Jones)--Pearson PLC (PSON.LN), a leading learning company, said Wednesday it has acquired Certiport Inc. from Spire Capital Partners for $140 million in cash.
-Founded in 1997 in Utah, Certiport develops, markets and distributes certification exams and practice tests of IT and digital literacy skills.
-It is a leading provider of foundation-level certification programmes for Microsoft, Adobe, HP, Intuit and other technology companies.
-The network delivers approximately 225,000 examinations in 27 languages every month.
-The acquisition extends the product range and geographic reach of Pearson's professional testing business, Pearson VUE.
-Certiport also supports Pearson VUE's expansion in fast-growing international markets, generating more than 60% of its revenues outside North America with particular strength in Asia and the Middle East.
-Certiport generated revenues of $48 million in 2011.
-Pearson expects the acquisition to enhance adjusted earnings per share and to generate a return on invested capital above Pearson's weighted average cost of capital from 2013, its first full year.
-Shares at 1349 GMT unchanged at 1153 pence, valuing the company at GBP9.4 billion.
-By Mark Shapland, Dow Jones Newswires; +44 207 8429358; firstname.lastname@example.org