Nearly a year after announcing the plan, Pearson has finally sold its U.S K-12 courseware business. The buyer: Nexus Capital Management, a Los Angeles-based private equity firm.
The headline value of the sale is $250 million, but the deal structure is broken down into several components. Pearson only gets $25 million in cash upfront. Nexus will pay the remaining amount—$225 million—in three to seven years. After this amount is paid, Pearson is entitled to 20 percent of future cashflow from this business.
