Stamford (CT, USA), November 2006 - The Thomson Corporation has realigned its operations to sharpen its strategic focus on providing electronic workflow solutions to business and professional markets and better position the company for future growth.
As part of the realignment, which becomes effective January 1, 2007, Thomson has sold NETg to its largest competitor, Skillsoft PLC, for approximately $285 million. The sale is expected to be completed in the second quarter of 2007. Further sales of Thomson Learning businesses, including those serving higher education, careers, library reference, corporate eLearning, and eTesting markets, will follow.
The acquisition will add to SkillSoft's existing offerings in eLearning content, Referenceware(TM), and learning platform technology through the addition of NETg's complementary offerings in live virtual ILT, blended learning, content authoring/LCMS technology, learning content, and custom development services.
The acquisition supports the company's overall strategy of a continual increase in the quality and flexibility of learning solutions available to SkillSoft's corporate, government, education, and small-to-medium size business customers. More importantly, the addition of NETg capabilities will strengthen SkillSoft's ability to compete for a greater share of the $13.2 billion corporate training market that includes many larger players with more comprehensive product offerings.
Prometric Competitive Bidding Process Commenced
Thomson is currently seeking buyers for Prometric, its assessment services, through a competitive bidding process. The company expects the sale of Prometric to be concluded in 2007.
