Publisher Reed Elsevier, Netherlands, has announced that the sale of its Harcourt Assessment Business to Pearson plc has received clearance from the US Department of Justice. Completion of this transaction, announced on May 4, 2007, is expected to take place shortly and represents the final element of Reed Elsevier's sale of its Harcourt Education division.
The sale of the Harcourt Education International businesses to Pearson completed earlier in 2007 and that of the Harcourt US Schools Education businesses to Houghton Mifflin Riverdeep Group completed in December 2007.
In February 2007, Reed Elsevier announced plans to sell its Harcourt Education division to sharpen its strategic focus on the growing digital opportunities in its key markets of Science, Medical, Legal and Business. With this acquisition, Pearson seeks to further strengthen its existing position by adding international reach, complementary products and new capabilities.
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