Morgan Lewis Reps Pearson In $400M Virtual School Deal

Law360, New York (September 15, 2011, 2:58 PM EDT) -- Educational media giant Pearson PLC said Thursday that it would pay $400 million for Connections Education LLC, a rapidly growing online public schools business owned by an investor group led by private equity titan Apollo Management LP.

Connections Academy runs accredited, virtual schools in 21 U.S. states serving 40,000 students who choose virtual schooling over the brick-and-mortar variety, and Pearson said it coveted the Baltimore-based target’s 30 percent revenue growth rate over the past two years.

"Virtual schooling is an attractive choice for a growing group...
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