The Thomson Corporation to sell Learning businesses

M2 Best Books,  Oct 26, 2006  

Tags: Thomson Corp.

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M2 BEST BOOKS-(C)2000-2006 M2 COMMUNICATIONS LTD

The Thomson Corporation (NYSE:TOC; TSX:TOC), a company providing electronic workflow solutions, has announced that it is to sell its Thomson Learning businesses as part of a realignment of operations.

The sale of the Thomson Learning businesses includes those which serve careers, library reference, higher education, corporate e-learning and e-testing markets, with the realignment becoming effective 1 January 2007.

Thomson said that Thomson Learning does not fit with its long-term strategic vision and confirmed that the divestiture of the Thomson Learning businesses is expected to incorporate three independent sales processes.

Thomson has agreed to sell NETg, a provider of continuing corporate education and training, to Skillsoft PLC (Nasdaq:SKIL) for around USD285m, with the sale expected to be completed in the second quarter next year.

Thomson is seeking buyers for Prometric, an assessment services provider, through a competitive bidding process, and expects the sale to be concluded in 2007. It also expects to commence competitive bidding for its Higher Education, Careers and Library Reference sales process in the first quarter next year.

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