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Pearson buys REDgroup online businesses

Pearson Australia is taking over the online business of collapsed Australian bookseller REDgroup, which includes the Borders and Angus & Robertson sites.

The publisher said it wanted to maintain "continuity for the business, its staff and customers" and the sites will be run as standalone businesses. Pearson has signed a deal with Kobo to provide e-books for the site.

Pearson Australia Group c.e.o. Dionne Higgins said: "REDgroup online has always enjoyed a strong market share, and an incredibly loyal customer base and we see this acquisition as an opportunity to further build this business. The team are committed to providing customers with a great online shopping experience."

REDgroup went into administration in February and has embarked on a series of store closures since then.

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A very creative move by Pearson. They don't have the hot hand for no reason....

A very creative move by Pearson. They don't have the hot hand for no reason....