UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2006
PEARSON plc
(Exact name of registrant as specified in its charter)
N/A
(Translation of registrant's name into English)
80 Strand
London, England WC2R 0RL
44-20-7010-2000
(Address of principal executive office)
Indicate by check mark whether the Registrant files or will file annual reports
under cover of Form 20-F or Form 40-F:
Form 20-F X Form 40-F
Indicate by check mark whether the Registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934
Yes No X
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This Report includes the following documents:
1. A press release from Pearson plc announcing Pearson acquires Promissor
23 January 2006
Pearson extends global leadership in professional testing:
acquires Promissor from Houghton Mifflin
Pearson, the international media and education company, today announced the
acquisition of Promissor, a leading professional testing business, from Houghton
Mifflin Company for $42m in cash.
Promissor is a leading provider of licensing examinations for state and federal
regulatory bodies in the US. It has a wide range of contracts to assess and
certify professionals in the real estate, insurance, mortgage broking,
contracting, employment and healthcare industries. Promissor also has a growing
presence in the UK, with educational contracts for organisations including City
and Guilds, the UK's largest vocational awarding body. Promissor is based in
Philadelphia, Chicago and London and operates a company owned network of 130
test centres in the U.S.
Pearson will combine Promissor with Pearson VUE, its existing professional
testing company. The transaction brings together two leading players in the
worldwide professional testing industry, currently testing and certifying more
than three and a half million people every year. Pearson expects the acquisition
to enhance adjusted earnings per share and return on invested capital from 2007,
its first full year, and to be earnings neutral in 2006*.
Pearson VUE's President and General Manager, Robert Whelan said: "Promissor's
market position was earned and maintained through a commitment to quality and
outstanding service that is shared by Pearson VUE. The two businesses are a
natural fit and we believe that our combined scale and capabilities will realize
tremendous benefits for our customers."
Pearson VUE, a leader in computer-based professional testing, operates through a
network of some 4,000 test centres across 145 countries of which more than 400
are Pearson-owned and operated. Pearson VUE has grown rapidly in recent years,
winning major long-term testing contracts for customers including the National
Council of State Boards of Nursing, the National Association of Securities
Dealers and the Graduate Management Admissions Council all in the United States
as well as the Driving Standards Agency in the United Kingdom and the Driver and
Vehicle Testing Agency in Northern Ireland. Pearson VUE's sales grew by more
than 30% in 2004, and grew in double digits again in 2005.
Ends
For more information:
Luke Swanson/Deborah Lincoln +44 (0)20 7010 2310
* Note: Adjusted earnings per share and ROIC are stated before amortisation of
intangible assets.
IFRS3 requires that intangible assets other than goodwill (e.g. intellectual
property, customer lists) are 'fair valued' at the point of acquisition and
amortised through the P&L (with no cash impact) over their estimated useful
lives.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PEARSON plc
Date: 23 January 2006
By: /s/ STEPHEN JONES
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Stephen Jones
Deputy Secretary