eCollege merged into Pearson Education

By Lisa Kerner

Charlotte, N.C., July 31 - eCollege is now a wholly owned subsidiary of Pearson Education following completion of the companies' merger first announced on May 14.

As part of the transaction's close, eCollege sold its enrollment division, Datamark, Inc., to a wholly owned subsidiary of Datamark Partners, LLC.

Pearson plc agreed to acquire eCollege for $22.45 per share in a deal valued at $477 million, according to a company news release. The agreement included the $41 million sale of eCollege's Datamark division to investors led by eCollege chairman and chief executive officer Oakleigh Thorne.

eCollege is post-secondary distance learning company located in Chicago.

Pearson is a London-based publisher of educational materials.

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