Sanoma Corp, Finland-based operator of learning services across a dozen European countries, has acquired the Italian K12 courseware businesses from Pearson along with a small exam preparation business unit in Germany. Pearson are exiting certain markets following a strategic review of their business while Sanoma is trying to grow its core business across Europe. The deal was worth £163m for a business with gross assets of £135m, generating £90m in revenue and a 10% margin in 2021.
The deal will also allow Pearson to distribute its English language teaching products via Sanoma in Italy.
