Pearson, a name synonymous with learning, on Monday announced it acquired Lumerit Education, an ed-tech company that helps address the issues of college degree completion and affordability in the consumer and corporate markets.
Lumerit, a San Antonio, Texas-based company, uses data and analytics to match learner profiles to academic programs to enable more people to prosper in their lives through learning. The deal values Lumerit at $29 million.
This is Pearson’s first acquisition in three years and will support a relatively newer part of the company: the Accelerated Pathways business, which started about three years ago to provide academic services to employers in the corporate learning market. The idea is to work with higher-ed institutions to offer degree-granting programs to workers at companies who have not earned postsecondary credentials.
According to the Pearson Global Learner Survey, online education is expected to grow significantly, with 76 percent of people globally saying college students will be taking online courses within 10 years.
“Pearson is committed to making education more affordable and accessible in all phases of life so that anyone with a desire to learn can have the opportunity to obtain the skills necessary to build a successful career,” said John Fallon, chief executive officer, Pearson. “Lumerit’s team has had tremendous success opening doors to education by offering flexible and personalized learning that works no matter if you have a full-time job, are a single parent, are an 18-year old just out of high school, or even a combination of these. We’re excited to build on Lumerit’s rapid growth to expand opportunities for even more individuals looking to improve their lives through learning.”
Pearson has U.S. offices in Hoboken.