Scholastic sells ed tech business to Houghton Mifflin Harcourt
In the US, Scholastic has signed a deal to sell its educational technology business to Houghton Mifflin Harcourt, reports Publishers Weekly. The business, which provides digital products and services to US schools, was sold for US$575m (A$734m). Scholastic said it will reinvest the proceeds from the sale in its remaining groups as part of a ‘renewed focus on books and reading in schools and home’. The sale is due to be completed by mid-year and all 800 employees of the business are expected to join Houghton Mifflin Harcourt.
Category: International news