Scholastic Completes Sale Of Educational Technology And Services Business Segment

NEW YORK, May 29, 2015 /PRNewswire/  Scholastic Corporation (NASDAQ: SCHL), the global children s publishing, education and media company, announced today it had completed the previously reported sale of its Educational Technology and Services business segment ( EdTech ) to Houghton Mifflin Harcourt Company (NASDAQ: HMHC), including the equity in International Center for Leadership in Education and Tom Snyder Productions, Inc., for $575 million in cash, subject to adjustment.  The sale was completed pursuant to a Stock and Asset Purchase Agreement entered into on April 24, 2015, as previously disclosed in a Current Report on Form 8-K filed with the Securities and Exchange Commission.  With the completion of the sale, Scholastic will remain focused on growing its core children s book business, including school book clubs, book fairs and trade, and the publishing and sale to schools of print and digital  instructional materials, both in the US and around the world, with a maj
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