Posts tagged "education marketplace"
education marketplace
November 22, 2010
Murdoch buys education tech company Wireless Generation
Rupert Murdoch’s News Corporation took its second step into the education world this evening when it made a deal to buy Wireless Generation, a Brooklyn-based education technology company.
Murdoch took his first step nearly two weeks ago, when he acquired the chancellor of New York City’s public schools, Joel Klein. In an announcement that took most of his staff and top advisors by surprise, Klein told reporters that he was leaving the Department of Education for a job at News Corp., where he will be an executive vice president overseeing investments in digital learning companies.
After Klein resigned, News Corp. officials told The New York Times that they planned to make “seed investments” in entrepreneurial education companies. The acquisition of Wireless Generation may be the first of these investments.
“Wireless Generation is positioned to grow aggressively, and it was the right time in the company’s journey to find a home where it will have access to the resources it needs to fuel that aggressive growth,” said spokeswoman Andrea Reibel in a statement.
Reibel would not comment on when talks began, but said the deal was finalized this evening. For $360 million in cash, News Corp. now owns 90 percent of Wireless Generation, a company with 400 employees. (more…)


