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Thomson backs out of Learning.
Byline: Mark Chillingworth
Thomson backs out of Learning
Mark Chillingworth
Thomson Learning is being sold off by its parent company, Thomson Corporation, because it believes the educational information provider does not fit its overall strategy. The sale is part of a re-organisation of the Thomson information companies.
President and CEO Richard J Harrington announced the sale to the business world on 25 October. "Thomson Learning is an excellent business, but it does not fit with our long-term strategic vision," Harrington said.
Bidding for the business will be open from 1 January 2007 and executives at the company think Thomson Corporation may net $5bn from the deal. Up for grabs are Delmar Learning, a career skills specialist; Prometric, an assessment business; Wadsworth higher education information provider; and Thomson Gale, well known in the UK for its e-books and databases.
Harrington said the company was exiting the education market because it wanted to focus on "electronic workflow solutions to business and professional markets". ...
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