The Bookseller.com

21st November 2008

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Pearson ups stake in Longman Nigeria

07.08.08

Pearson has increased its interest in Longman Nigeria, after acquiring an additional 22% stake in the business. The deal takes  its ownership to a controlling 51%. The remaining shares are quoted on the Nigerian Stock Exchange.

Pearson said Longman Nigeria was a leading educational publisher in Nigeria, with particular strengths in English, maths and science. It employs 235 people and has 10 branches and warehouses throughout the country. It had gross assets of £7.3m in 2007.

John Fallon, chief executive of Pearson International Education, said: "We've sustained our involvement in Longman Nigeria for many years and are very pleased to be playing a bigger role in its future growth. Education has a vital role to play in Nigeria's continuing economic development. We will continue to invest in providing high quality textbooks and look to broaden our role into areas such as assessment and testing, teacher training and support and the application of technology to learning."

pearson Global