Source: WSJ, Oct 2012
Mr. Fallon, who joined Pearson in 1997 as director of communications, said the company already has access to as much as £1 billion ($1.61 billion) for acquisitions at the moment, so his first priority portfolio-wise is to decide how to deploy that money.
She pushed the education business away from traditional textbooks and toward digital teaching technologies. She said digital products and services will account for half of Pearson’s global revenue this year.
Related Reading: Bloomberg, Feb 2012
Pearson made offers to buy at least a dozen companies last year while building up its education business, according to data compiled by Bloomberg. Acquisitions contributed 262 million pounds to 2011 sales, the company said.
For acquisitions “we have talked about our priorities and they haven’t changed a lot,” Chief Executive Officer Marjorie Scardino said on a conference call. “Mostly education in emerging markets, and they are about building our interest in vocational and career workplace education and of course anytime we see a hole in our technology.”