Press Release: Houghton Mifflin Harcourt to Acquire Scholastic’s Educational Technology and Services Business for $575 Million
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The acquisition would provide HMH with a leading position in intervention curriculum and services and extend its product offerings in key growth areas, including educational technology, early learning, and education services, creating a more comprehensive offering for students, teachers and schools. The transaction is expected to be accretive to HMH net income and free cash flow in 2016 and to yield synergies in 2016 and beyond with annual cost savings of $10 to $20 million. The transaction is expected to close in the second calendar quarter of 2015, subject to closing conditions and regulatory approval.
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- People:
- Houghton-Mifflin Harcourt
- Places:
- Boston
- United States
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