(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...
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.
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?
This obviously means that the Pearson takeover of Wireless Generation that was reported previously will not take place.
ReplyDeleteSee 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.
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?"
ReplyDeleteWireless 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?
ReplyDelete