NEW YORK, July 17, 2013 /PRNewswire/ -- McGraw-Hill
Education today announced the completion of its acquisition of the
entirety of shares in Tata McGraw-Hill Education Private Limited,
the company's long-existing joint venture with Tata Group. As part
of the agreement, McGraw-Hill Education purchased the minority
ownership stake in the company held by two Tata charitable trusts.
The purchase comes as McGraw-Hill Education increases its focus on
providing its educational solutions and services globally. Further
terms of the acquisition were not disclosed.
"As India has made great strides in developing its economy, its
need for an educated, skilled workforce has increased enormously,"
said Buzz Waterhouse, president and chief executive officer of
McGraw-Hill Education. "We're extremely proud of Tata McGraw-Hill's
success in preparing India's
students to thrive in the global knowledge economy, and through
this acquisition, we're deepening our commitment to improving
education and results for students around the world."
Formed in 1970, the Tata McGraw-Hill joint venture quickly
became a leader in providing learning solutions to India's burgeoning economy in higher
education, professional and test prep markets. As part of the
transaction, the company will change its name to McGraw-Hill
Education India Private Ltd.
The acquisition follows McGraw-Hill Education's recent
announcement that it has signed an agreement to acquire ALEKS
Corporation, the developer of the ALEKS® adaptive learning
technology for the K-12 and higher education markets. In
January 2013, McGraw-Hill Education
acquired an equity stake in Area9 Aps, the Denmark-based adaptive learning company.
For more information on McGraw-Hill Education's solutions for
global education, visit:
http://www.mheducation.com/divisions/international.
About McGraw-Hill Education
McGraw-Hill Education is a
digital learning company that draws on its more than 100 years
of educational expertise to offer solutions that improve learning
outcomes around the world. McGraw-Hill Education is the adaptive
education technology leader with the vision for creating a highly
personalized learning experience that prepares students of all ages
for the world that awaits. The Company has offices
across North America, India, China, Europe,
the Middle East and South America, and makes its
learning solutions available in more than 60 languages. For
additional information, visit www.mheducation.com.
Contact:
Brian
Belardi
McGraw-Hill Education
212-904-4827
brian.belardi@mheducation.com
SOURCE McGraw-Hill Education