Cengage Learning has announced it has acquired McGraw-Hill Australia's portfolio of secondary school titles.
The acquisition, effective 1 August 2010, was ‘an attractive portfolio fit for Cengage Learning with the strength of McGraw-Hill in performing and visual arts, history, and state-specific publishing in maths and science, complementing the Cengage Learning portfolio which has good positions in maths and languages', said David O'Brien, vice-president, schools division at Cengage Learning.
‘Combined, the portfolio provides an excellent array of teaching and learning resources for each state in all key learning areas,' he said.
McGraw-Hill managing director Murray St Leger said that, ‘with the new Australian Curriculum just around the corner, strategically, the timing was appropriate for us to focus on our tertiary and vocational education business'.
‘We have built a high-quality portfolio of secondary school resources for which we and our authors are justifiably proud,' said St Leger, adding that the acquisition meant the secondary school portfolio could ‘continue to prosper, albeit with a new owner'.
Cengage vice-president of finance and operations Michael Vella told the Weekly Book Newsletter that the acquisition would have no effect on staffing. ‘We have about 15 staff in Sydney and the McGraw people will join our Sydney staff,' he said. With regard to subject areas covered by both companies, Vella said there was ‘a minor amount of overlap' but not enough to represent a consideration in acquiring the McGraw Hill list.
‘We're delighted with the acquisition,' he said.
More information found here.