News

McGraw-Hill Education sale confirmed, for $2.5bn

McGraw-Hill has confirmed an agreement to sell its education business to Apollo Global Management for a purchase price of $2.5bn.

The transaction is expected to be concluded in the next few weeks.

McGraw-Hill will then be renamed McGraw Hill Financial, and will act as a content and analytics company in the global capital and commodities markets.

McGraw-Hill Companies chairman Harold McGraw III said: "After carefully considering all the options for creating shareholder value, the McGraw-Hill board of directors concluded that this agreement generates the best value and certainty for our shareholders and will most favourably position the world-class assets of McGraw-Hill Education for long-term success."

Apollo senior partner Larry Berg said: "McGraw-Hill Education has a deep and impassioned management team, and we share their enthusiasm and strategic vision for the business. We look forward to leveraging the company's leading portfolio of trusted brands and innovative digital learning solutions to drive growth through the ongoing convergence of education and technology on a global basis."
 

Comments: Scroll down for the latest comments and to have your say

By posting on this website you agree to the Bookseller comments policy. Comments go direct to live please be relevant, brief and definitely not abusive. Report any "unsuitable comments by clicking the links"

2.5 Billion seems a smart move and a fantastic deal for McGraw Hill. It also seems an awful lot for software like Actuity that appears to me to be nothing more than a database to log student progress.

Call me old fashioned but I had a superb education without any of this nonsense and so can any kid today. The internet is making everything cheap, if not free with open sourcing. There is a demand for massive government cutbacks. In the UK many are now not considering university as degrees mean massive debt and are no longer a guarantee of a job. I can't help thinking that software like Actuity is tomorrow's jetsam, built on yesterday's decades of excess.

This sale puts me in mind of Foxton's Real Estate in the UK. Sold for £370 million in 2007 just as the market hit the buffers. Foxton's North America is now in Chapter Eleven.

It would be really interesting to know the inside story because unlike truly amazing software like Photoshop or 3D product like Maya that Pixar use, how difficult is it to knock-up another Actuity and give it away for free? Photoshop today is around £600. Pixelmator is $14.99, works the same, looks the same but nicer. That's not a one off example either, it's happening everywhere. Microsoft can't get arrested. Cheatah3D is a great little 3D package - only $69 - absolutely brilliant and runs on a Mac. When I first looked at 3D, Alias (Maya's predecessor) running on a Silicon Graphics machine was around £250,000.

We'll have to wait and see but, if there are tears, or blood on the carpet, it won't surprise me.

http://www.darcyblaze.com/

Darcy - your post makes no sense to me. They haven't just bought a database, they've bought an entire publishing company which publishes into the HE, Professional and trade channels, both with physical and digital products.

2.5 Billion seems a smart move and a fantastic deal for McGraw Hill. It also seems an awful lot for software like Actuity that appears to me to be nothing more than a database to log student progress.

Call me old fashioned but I had a superb education without any of this nonsense and so can any kid today. The internet is making everything cheap, if not free with open sourcing. There is a demand for massive government cutbacks. In the UK many are now not considering university as degrees mean massive debt and are no longer a guarantee of a job. I can't help thinking that software like Actuity is tomorrow's jetsam, built on yesterday's decades of excess.

This sale puts me in mind of Foxton's Real Estate in the UK. Sold for £370 million in 2007 just as the market hit the buffers. Foxton's North America is now in Chapter Eleven.

It would be really interesting to know the inside story because unlike truly amazing software like Photoshop or 3D product like Maya that Pixar use, how difficult is it to knock-up another Actuity and give it away for free? Photoshop today is around £600. Pixelmator is $14.99, works the same, looks the same but nicer. That's not a one off example either, it's happening everywhere. Microsoft can't get arrested. Cheatah3D is a great little 3D package - only $69 - absolutely brilliant and runs on a Mac. When I first looked at 3D, Alias (Maya's predecessor) running on a Silicon Graphics machine was around £250,000.

We'll have to wait and see but, if there are tears, or blood on the carpet, it won't surprise me.

http://www.darcyblaze.com/

Darcy - your post makes no sense to me. They haven't just bought a database, they've bought an entire publishing company which publishes into the HE, Professional and trade channels, both with physical and digital products.