The deal will give the organizations the capacity to “empower students and educators around the world with a wide choice of affordable, engaging course materials and advanced digital platforms to help them succeed through a lifetime of learning,” McGraw-Hill Education President and CEO Nana Banerjee said in a statement.
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The combined company would have pro forma cash revenue of nearly $3.2 billion, the organizations said. The all-stock merger has the potential to reshape a vast swath of territory in the education market. The newly merged company will have a huge footprint in the education space, delivering 44,000 combined titles and serving customers in more than 100 countries. McGraw-Hill Education and Cengage announced today that they have agreed to merge, in a pairing that will bring together two major producers of educational content and services across the K-12 and college landscape.
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