Since the turn of the century, Pearson has acquired more than two dozen education companies. But last year, as it was selling assets and slashing jobs left and right amid a major reorganization, CEO John Fallon said the company had curbed its appetite for buying startups.
Today, the Pearson announced its first acquisition in three years: Lumerit Education, a San Antonio, Texas-based company that works with businesses to offer their employees opportunities to earn bachelor’s degrees.
The deal, worth $29 million, marks Pearson’s return to the buyer’s side of the table after several years on the other side. And it will support a relatively newer part of the company: the Accelerated Pathways business, which started about three years ago to provide academic services to employers