Yesterday Pearson, our favorite merchant for all things standardized testing, sold The Financial Times for £844m (roughly $1.3 billion US money) in cash.
So, what do they plan to do with all that money?
We plan to reinvest the proceeds from today’s sale to accelerate our push into digital learning, educational services and emerging markets. We will focus our investment on products and businesses with a bigger, bolder impact on learning outcomes, underpinned by a stronger brand and high-performing culture.
This will help us progress toward a future where learning is more effective, affordable, personal and accessible for people who need it most. By doing so, we can help more people discover a love of learning and make progress in their lives.
This is the promise of learning– and the future of Pearson.
I’m not sure what most of that means, what a “bigger, bolder impact” might look like, or how they can help people “discover a love of learning”.
But based on Pearson’s history, be afraid. Be very afraid.