CHICAGO -- May 14, 2007 -- eCollege® [Nasdaq: ECLG], a leading provider of value-added information services to the post-secondary education industry, today announced that it has entered into an agreement to be acquired by Pearson Education, Inc., a wholly-owned subsidiary of Pearson plc (LSE: PSON; NYSE: PSO), in a transaction with a total value of approximately $538 million. The proceeds will include $41 million from the separate sale of Datamark, the Company´s Enrollment Division, to an investor group led by Oakleigh Thorne, eCollege´s chairman and CEO.
The eCollege Board of Directors has unanimously approved the merger agreement with Pearson and recommends...
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