Pearson buys US online education company for $650 mln

Tue Oct 16, 2012 11:36am EDT

Oct 16 (Reuters) - Pearson Plc said it bought U.S. online educational services company EmbanetCompass Group Inc for $650 million.

The British education and publishing group said it bought EmbanetCompass, which partners with more than 35 not-for-profit colleges and universities on online courses, from an investor group led by Technology Crossover Ventures and Knowledge Universe.

Reuters had reported in August that EmbanetCompass had kicked off a sale process.