As anticipated since September, Bertelsmann is spending $230 million to buy a minority stake in HotChalk, a technology company that powers online degree programs. Along with last month’s RediLearning deal, their stake in Alliant University and the big deal about a year ago for Relias Learning, Bertelsmann has spent in the neighborhood of $1 billion for US-based education and edtech companies over the past year.
Finance
HMH Stumbles On Soft Education Market
Houghton Mifflin Harcourt reported a difficult third quarter and reduced their expectations for the full year. Sales were up $25 million to $576 million for the quarter — but that include $82 million from the recently-acquired EdTech business they bought from Scholastic. Without that addition, sales would have been down $58 million. Operating income fell $13.5 million to $102.6 million. “In light of a softer open territory market and smaller supplemental and residual market,” the company reduced its guidance for the full year, and the stock is down more than 7 percent this morning. To appease investors, they authorized another […]
Amazon Expands Paid Maternity Leave
After mixed results from trying to show what a great employer they are by discrediting former employees with details from their personnel files, Amazon is taking a more productive tack in providing a better work environment. According to an internal email obtained by Jezebel, the company is expanding its leave for new parents — offering up to 20 weeks of paid leave for birth mothers, and a new six-week leave for all new parents. They have also added a “leave share” program that can be shared with partners at other companies. Another new element according to the email is an […]
Corporate: Luebbe’s Streaming Service, Oolipo; and More
Germany’s Basti Luebbe is launching its streaming platform, now named oolipo, in the US, UK, and Germany. Oolipo will focus on short-form multimedia content and will soft-launch in April 2016, with a full launch scheduled for next July. “The portal will focus on short-form content in portions ideally suited to mobile reading, especially on smartphones and tablets. This is how oolipo is to reach its target group worldwide.” (While it was a different era, Kobo launched as Shortcovers in 2009, focused on short-from content for mobile reading.) Luebbe ceo Thomas Schirack said in the announcement that the platform’s original name, Beam, […]
Apple Records Another Strong Quarter, As Media Sales Continue to Gain
Apple reported fourth quarter results ahead of analysts’ expectations on Tuesday afternoon, with sales up 22 percent to $51.5 billion and net profit of $11.1 billion. For the full fiscal year sales rose 28 percent to $233.7 billion. Despite the strong results, some investors had qualms about the company’s slightly moderated guidance for the holiday quarter, which is expected to have sales of between $75.5 billion and $77.5 billion, and the role that Chinese demand is playing in the company’s growth. The company sold 9.9 million iPads in the quarter, down from 12.3 million tablets a year ago. Their “services” line item, which […]
Corporate: Bertelsmann Buys RediLearning; Harper Buys The Midlist; and More
Bertelsmann subsidiary Relias Learning has acquired Florida-based e-learning company RediLearning. Terms of the deal, the first under the Bertelsmann Education Group umbrella, were not disclosed — though a Reuters source puts it at a “medium double-digit million US dollar sum.” The nine-year-old RediLearning provides online training in the field of senior care, primarily through 400 online courses. Bertelsmann ceo and chairman Thomas Rabe said in the announcement: “The acquisition of RediLearning fits perfectly into our education strategy. E-Learning is a strategic segment for Bertelsmann as we develop our education business. Relias is a core investment, and we will continue to develop […]