Houghton selling college book unit
From Times Wire Services
Houghton Mifflin Co. is selling its college textbook unit to Cengage Learning for $750 million so it can focus on its publishing business geared toward kindergarten through 12th grade, as well as trade and reference publications.
Cengage, previously known as Thomson Learning, said the cash transaction would help broaden its education products, including textbooks and study guides.
Boston-based Houghton Mifflin and Stamford, Conn.-based Cengage also said they planned a long-term agreement to cooperate in expanding distribution of Cengage’s book titles into the U.S. market for high school advanced placement textbooks.
