Pearson Acquires Leading Online Language Learning Platform
Hoboken, NJ (USA), May 2022 - Pearson has announced its acquisition of Mondly, a global online language learning platform. The collaboration will allow Pearson to offer a full range of ways for people to learn and prove their English skills - adding online self-study to its existing diagnosis and learning tools and assessment portfolio.
Mondly is one of the world's leading online language learning players, offering consumers high-quality learning in English and forty other languages via its app, website, virtual reality, and augmented reality products. Mondly delivers language courses for both professional and personal learning in a combination of more than 1300 language pairs and is consistently one of the highest-rated educational language apps in the app store. It also offers enterprise solutions through MondlyWORKS and has built an award-winning app that helps children learn languages - MondlyKIDS.
Andy Bird, chief executive of Pearson, said, "Our acquisition marks another step in our digital strategy, giving us an exciting foothold in the fast growing direct-to-consumer English learning market and building yet more connectivity across the entire Pearson portfolio." He added, "Mondly is a fast growing and profitable business that expands our reach and scale in the language learning market and drives growth for the company. This acquisition is strategically important to the Group as well as being accretive and driving shareholder returns.
Alex Iliescu, Mondly’s co-founder and CEO, commented, "Our mission has always been to make language learning fun, easy, and accessible to everyone. We are excited to be joining forces with Pearson, the world's leading learning company, to help us achieve our goal on a much larger scale. Together we will work to shape the future of learning languages."
Pearson expects this acquisition to accelerate revenue growth from 2023 onwards for its English Language Learning division and continues to expect mid-teens margins for the division by 2025.
The acquisition enables the company to offer a fully integrated market proposition. It also provides synergies and cross-selling opportunities across the portfolio, such as offering the opportunity to bundle English with upskilling and reskilling products through Pearson's Workforce Skills division. The Mondly team, including the founders, will join Pearson's English Language Learning division.