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Pearson to Acquire Schoolnet

New York — April 26, 2011 —

Pearson, the world's leading learning company, is announcing today the acquisition of Schoolnet, a fast-growing and innovative education technology company that aligns assessment, curriculum and other services to help individualize instruction and improve teacher effectiveness.

Schoolnet now serves more than 5 million US preK-12 students through partnerships with districts and states, supporting about one-third of America's largest urban cities.

Pearson will acquire Schoolnet for $230m in cash. The agreement is subject to a Hart-Scott-Rodino review.

Schoolnet's data-based solutions will complement Pearson products and services that help boost student achievement through diagnostic tools and tailored instruction. Schoolnet customers will benefit from Pearson content and information technology such as PowerSchool for student information, AIMSweb for intervention, America's Choice for school improvement services, eCollege and Fronter for online learning platforms, TutorVista for online targeted tutoring, Data Solutions and National Transcript Center (NTC) for interoperability and state longitudinal data systems, and Family Education Network for parent and teacher education.

Marjorie Scardino, Pearson's chief executive, said, "Being able to offer a connective digital spine for learning has been Pearson's goal for years. Schoolnet has shared our passion, and together we can make that spine more flexible and powerful for schools, teachers and students."

Based in New York City, Schoolnet was founded in 1998 by Jonathan D. Harber and Denis P. Doyle, who developed the Schoolnet instructional management suite to help school systems use data to boost learning.

The Obama administration, through programs such as Race to the Top, supports the use of comprehensive data systems that improve college-readiness. As part of the administration's reform agenda, some $17 billion has been allocated to states and districts to support school improvement.

Jonathan D. Harber, Schoolnet's chief executive, will stay on, along with his senior leadership team, and continue to serve as CEO of Schoolnet and as a senior executive at Pearson.

"K-12 schools have begun a revolutionary transformation towards evidence-driven instruction to improve student achievement," Harber said. "Personalized learning for students and educators is key to advancing student progress and we are pleased to be joining the Pearson family in this pursuit."

Will Ethridge, chief executive of Pearson North America, said, "We are excited to have Jonathan and the talented Schoolnet team join Pearson. We see an excellent fit between the capabilities of our two organizations and we are looking forward to the opportunity to work together to improve learning and accelerate growth."

About Schoolnet, Inc.

Schoolnet, Inc. is the leader in data-driven education for K-12 school systems. Schoolnet's award winning Instructional Improvement System (IIS) helps schools increase student achievement and teacher effectiveness. Schoolnet's systems are built upon an open, scalable platform that provides users with the data, reports, tools, and content to assess performance, analyze results, individualize instruction, and engage parents. Schoolnet's solutions are used successfully by over a third of the nation's largest urban school districts, including Chicago Public Schools and the School District of Philadelphia. For more information, please visit http://www.schoolnet.com

About Pearson

Pearson (NYSE:PSO), the world's leading learning company, is committed to improving the lives of people everywhere. At Pearson, we champion innovation and invest in models for education that embrace higher standards, teacher effectiveness, college and career readiness, school improvement, assessment-driven instructional programs, and applications for mobile and virtual learning. Pearson's other primary businesses include the Financial Times Group and the Penguin Group. To learn more, visit http://www.pearson.com

Contact

Wendy Spiegel
Pearson
800-745-8489