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Reed Elsevier sells Harcourt units to Houghton Mifflin

Business Publisher, July 17, 2007

Educational publisher Houghton Mifflin Company (Boston) has signed a definitive agreement to acquire the Harcourt Education (New York), Harcourt Trade and Greenwood-Heinemann divisions from Reed Elsevier (London) for $4 billion, including $3.7 billion in cash and $300 million in common stock of Houghton Mifflin Riverdeep Group, Houghton Mifflin's parent company. Upon completion of the deal in late 2007 or early 2008, Reed Elsevier will own 11.8% of all common shares of Houghton Mifflin Riverdeep.

Harcourt Education is an international educational publishing company that serves the Pre-K to Grade 12 market and also provides educational and psychological testing in the US, UK and France. The company produces educational, testing and teaching products through a range of media that are sold worldwide.

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Harcourt Trade Publishers publishes fiction and nonfiction books for readers of all ages under several imprints including Harcourt for hardcover books, the Harvest Books imprint for adult paperbacks, and Harcourt Children's Books. Greenwood-Heinemann is a publisher of library reference and online products as well as professional books and curriculum resource content for K-12 classrooms.

Houghton Mifflin produces a variety of educational information and solutions products, ranging from textbook programs to instructional technology to standards-based assessments fore elementary and secondary schools and colleges. The company also publishes a line of reference materials and fiction and non-fiction for adults and young readers. It had over $1.4 billion in sales in 2006. Houghton Mifflin Riverdeep Group was formed in December 2006 with the purchase of Houghton Mifflin by HM Rivergroup (Dublin).

The Business Publisher is now available in pdf format. For more information, contact the publisher at 414-803-3472 or jkpubl@mac.com

COPYRIGHT 2007 JK Publishing, Inc
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