Thomson completes Prometric sale
15 October 2007 | 1744 views | 0
Source: Thomson Corporation
The Thomson Corporation (NYSE: TOC - News; TSX: TOC), a leading provider of information solutions to business and professional customers worldwide, today reported that it has completed the sale of Thomson Prometric to Educational Testing Service (ETS), the world's largest educational research and assessment organization, for approximately $435 million.
The purchase price includes approximately $310 million in cash plus $125 million to be paid through a promissory note due in 2014, and is subject to certain post-closing adjustments. In July 2007, Thomson announced it had entered into a definitive agreement with ETS.
Deutsche Bank Securities Inc. acted as the financial advisor to Thomson for the Prometric sale.