Sell sell sell
In this week’s dealmaking news, Pearson is in the process of selling parts of its TutorVista to India-basted BYJU’s—and is also assessing the future of its U.S. K-12 courseware business. Also, private equity firm Gauge Capital has made a strategic investment in online course provider eDynamic Learning.
Pearson to Sell Parts of TutorVista to BYJU’s: India-based startup BYJU’s is in advanced talks to acquire parts of online tutoring company TutorVista from London-based publishing and education company Pearson, according to a report from The Economic Times.
The article cited two individuals aware of the deal, who noted that negotiations are in the final stages and include the online business of technology-enabled education solutions provider Edurite that was acquired by TutorVista in 2007.
Pearson initially acquired a minority stake in TutorVista in June 2009, then increased its ownership to a controlling 76 percent stake for $127 million in 2011, according to Pearson’s website.