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AEP Online |
Riverdeep Purchases Houghton Mifflin for $1.8 BillionHoughton Mifflin Co. last week agreed to a nearly $1.8 billion buyout that will pair a venerable name in educational textbook publishing with Riverdeep Inc., a smaller firm whose complementary strength is educational software. By joining Houghton Mifflin's paper-and-ink business with Riverdeep's core strength in electronics, the newly formed venture hopes to better position itself against larger rivals Pearson PLC, McGraw-Hill, and Harcourt Education. Barry O-Callaghan, Riverdeep's chairman and CEO, said in an AP report that the transaction seeks to "capitalize on the convergence of print and digital education platforms" and help Riverdeep draw strength from Houghton Mifflin's larger sales force. Questions, ideas, or in need of more information? Please contact Stacey Pusey at 302-295-8349. |
"Houghton Mifflin Oks $1.8 billion buyout, pairs with software publisher" The Boston Globe/AP
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