Pearson grabs US online firm

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The Financial Times' owner Pearson yesterday splashed out $650m (£405m) to snap up US online learning firm EmbanetCompass.

The company, which Pearson bought from an investor group led by Technology Crossover Ventures and Knowledge Universe, works with more than 100 colleges and universities in North America.

Pearson already has partnerships with institutions such as Arizona State University, California State University Online and the community college systems in West Virginia, Kentucky, Tennessee, Iowa and Colorado.

Will Ethridge, the CEO of Pearson North America, said: "The acquisition extends our investment in two areas where we see great opportunities for growth and impact — online education and educational services."