HOBOKEN, N.J., Nov. 4, 2019 /PRNewswire/ -- Today, Pearson, the world's learning company, announced the acquisition of Lumerit Education, an ed tech company that helps address the issues of college degree completion and affordability in the consumer and corporate markets. Lumerit uses data and analytics to match learner profiles to academic programs to enable more people to prosper in their lives through learning. The deal values Lumerit at $29 million.
According to the Pearson Global Learner Survey, online education is expected to grow significantly, with 76% of people globally saying college students will be taking online courses within 10 years. With this acquisition, Pearson will use Lumerit's technology to accelerate the growth of its Accelerated Pathways business.
"Pearson is committed to making education more affordable and accessible in all phases of life so that anyone with a desire to learn can have the opportunity to obtain the skills necessary to build a successful career," said John Fallon, chief executive officer, Pearson. "Lumerit's team has had tremendous success opening doors to education by offering flexible and personalized learning that works no matter if you have a full-time job, are a single parent, are an 18-year old just out of high school, or even a combination of these. We're excited to build on Lumerit's rapid growth to expand opportunities for even more individuals looking to improve their lives through learning."
"Lumerit has built an organization dedicated to using technology to serve students from all backgrounds and at all points in their lives," said Ryan Yamane, co-founder and president of Lumerit. "There is no better way for us to continue to build on this success than by combining our incredible talent and innovation with the reach and resources of Pearson."
Lumerit's 70 employees will join Pearson's Online Learning Services business, working with the Accelerated Pathways team. The company has served more than 24,000 students across the US and in 48 countries, taking into account student learning styles, goals, available time, budget, as well as important life situations to help them graduate.
Pearson Accelerated Pathways works with employers to deliver education programs that improve employees' skills and knowledge, building a workforce that's more competitive, engaged, and prepared for the future of work.
We are the world's learning company with more than 24,000 employees operating in 70 countries and a mission to help people make progress in their lives through learning. We combine world-class educational content and assessment, powered by services and technology, to enable more effective teaching and personalized learning at scale. We believe that wherever learning flourishes so do people.