Monday, November 22, 2010

News Corp to Buy Wireless Generation for $360 Million


ABC News/Money: News Corp to Buy Education Tech Co for $360 Mln


(Reuters) - News Corp said it will acquire 90 percent of Wireless Generation, a privately-held Brooklyn-based education technology firm, for about $360 million in cash to expand its presence into the education technology sector...

3 comments:

  1. This obviously means that the Pearson takeover of Wireless Generation that was reported previously will not take place.

    See http://parentscoalitionmc.blogspot.com/2010/11/pearson-expected-to-acquire-wireless.html for the earlier report.

    See http://parentscoalitionmc.blogspot.com/2009/11/details-of-deal-between-wireless.html for the story about the joint venture between MCPS and Wireless Generation.

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  2. So will Montgomery County taxpayers finally get back the investment they made in this company or will this go on the MCPS books as a "loss?"

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  3. Wireless Generation has sales of about $60 million per year and has never been profitable. So News Corp buys them for $360 Million? Why? Perhaps to see FoxNews streaming on all those handheld devices in classrooms?

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