As planned, Pearson has sold their Global Education business — which provides English language training and test preparation for Chinese students preparing to study abroad — to privately-owned Chinese company Puxin Education. Pearson says the sale is expected to generate proceeds “in the region of $80 million.” The business has sales of £78 million and an adjusted operating loss of £4 million, and the transaction will take approximately 1,900 employees out of Pearson’s payroll. The company says the sale is part of their “strategic shift away from large-scale direct delivery services to focus on more scalable online, virtual, and blended services.” Pearson […]
