Gabrielle Saulsbery//April 29, 2022//
Educational publishing company Pearson, whose U.S. headquarters are in Hoboken, acquired Mondly, a global online language learning platform, according to an April 29 announcement.
Mondly offers consumers high-quality learning in English and 40 other languages via its app, website, virtual reality and augmented reality products. The platform includes language courses for both professional and personal learning in a combination of more than 1,300 language pairs, offers enterprise solutions through MondlyWORKS, and has built an award-winning app that helps children learn languages called MondlyKIDS.
“Today’s acquisition marks another step in our digital strategy, giving us an exciting foothold in the fast growing direct-to-consumer English learning market and building yet more connectivity across the entire Pearson portfolio,” said Andy Bird, chief executive officer of Pearson. “Mondly is a fast growing and profitable business that expands our reach and scale in the language learning market and drives growth for the company. This acquisition is strategically important to the Group as well as being accretive and driving shareholder returns.”
This acquisition is expected to accelerate revenue growth from 2023 onward for Pearson’s English language learning division, which continues to expect mid-teens margins for the division by 2025, Pearson said.
The Mondly team, including its founders, will join Pearson’s English language learning division.