- Houghton Mifflin Harcourt on Friday announced that it is buying Scholastic's Educational Technology and Services business for $575 million.
- Through this acquisition, which is expected to close during Q2 2015, Houghton Mifflin boosts its offerings in areas including intervention, ed tech, and early learning.
- Additionally, HMH will gain digital infrastructure and expertise as it moves to build out next-generation products and services, according to a press release.
With Scholastic's EdTech business, HMH is gaining more than just additional products and services: It's also picking up the expertise of that segment's president, Margery Mayer, along with other members of its management team and around 800 employees. That said, the business is known for its intervention curriculum, products, and services that include the market leading Read 180 and Math 180 products.
Scholastic, meanwhile, is expected to focus on core businesses including Children's Book Publishing and Distribution, and Classroom and Supplemental Materials Publishing.