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Pearson to sell SA courseware business to Novus for $64m

Education group Pearson said on Friday, 12 August 2022, it will sell 75% of its South African courseware publishing business to print production firm Novus Holdings for £53m ($64.30m).

By Sinchita Mitra

15 Aug 2022

Image source: Karolina Grabowska from Pexels

The company said the sale concludes the strategic review of its International Courseware local publishing businesses, whose disposal will have a £15-20m impact to its 2022 adjusted operating profit.

The business being sold in South Africa includes its K12, Technical & Vocational Education and Training catalogue and higher education courseware.

($1 = 0.8242 pounds)

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/