Pearson Buying Schoolnet For $230 Million

Pearson (NYSE: PSO), the owner of the Financial Times and book publisher Penguin, has acquired education technology company Schoolnet.

Pearson, which has made 10 significant acquisitions in the education sector in the last year, has paid $230m (£140m) in cash for the US company.

Schoolnet, which was founded in 1998, offers a system for allowing teachers to deliver personalised learning for students and serves more than 5 million US pupils through partnerships with states and districts.

Barack Obama’s administration has allocated about $17bn to states and districts to support school improvement, through programmes such as Race to the Top, to use data and technology to help prepare students for college.

“Being able to offer a connective digital spine for learning has been Pearson’s goal for years,” said the Pearson chief executive, Marjorie Scardino. “Schoolnet has shared our passion, and together we can make that spine more flexible and powerful for schools, teachers and students.”

This article originally appeared in MediaGuardian.