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May 14, 2007, 01:29 PM ET
Pearson to Buy eCollege
Pearson, the publishing and education company, announced today that it has agreed to purchase eCollege, an e-learning company, for $477-million. But eCollege's Datamark student-enrollment division will remain independent and will be run by eCollege's current chairman and chief executive officer, Oakleigh Thorne. Matthew Schnittman, president of eCollege's e-learning division, will join Pearson to lead eCollege. Full Chronicle coverage of this announcement is available here. --Dan Carnevale
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