ETS, the educational assessment and research organisation, is acquiring Thomson Prometric, the global leader in technology-enabled testing and assessment services. Prometric is part of The Thomson Corporation.
ETS is Prometricís largest customer for technology-based delivery of tests and assessments. Prometric delivers ETSís TOEFL (Test of English as a Foreign Languageô) test, the GRE (Graduate Record Examinations) tests and the Praxisô teacher licensing assessments. Thomson Prometric delivers assessments directly to candidates via the web and through a global network of testing centres in 132 countries.
Prometric has an extensive and diversified customer portfolio in the academic, professional, governmental, corporate and information technology markets. Prometricís more than 400 clients include the Association of American Medical Colleges, Johns Hopkins University, the College Board, the National Association of Securities Dealers and the American Institute for Certified Public Accountants. The company has government contracts in Ireland, England, Saudi Arabia, and federal and state contracts in the United States. Clients in the technology market include IBM, Microsoft Learning and Sun Microsystems.
ETS is acquiring Prometric for $435 million, pending regulatory approval. Prometric had annual revenues of $317 million in 2006. The transaction is expected to close in the third quarter of 2007. ìPrometric is uniquely positioned at the intersection of ETSís commitment to deliver high-quality products and services through access to this strategically valuable, worldwide technology-based delivery channel,î explains ETS President and CEO Kurt Landgraf. ìAcquiring Prometric expands our footprint and strengthens ETSís position in the global marketplace for delivering technology-based testing and assessment services.î
ìWe look forward to providing high-quality services, products and innovative solutions to Prometricís premier clients, which include some of the largest corporations, organisations and government agencies in the world,î Landgraf adds. ìWe will work closely with these valued clients to ensure we are aligned with their strategies and goals. They can rely on the unique strengths of Prometric and ETS to help them achieve long-term growth and success.î
ìETS is a good strategic fit and well-aligned with our business and our goals,î said Michael Brannick, President and CEO of Prometric. ìETS knows our industry well and will help strengthen Prometricís business by acting as a catalyst to our growth. We are excited and optimistic about the opportunities new ownership will bring.î
Prometric will operate as a wholly-owned, for-profit subsidiary of ETS. Credit Suisse Securities (USA) LLC acted as financial advisor to ETS with respect to its acquisition of Prometric.
ETS acquires Thomson Prometric
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