Pearson set to take a steak in Espresso
The educational publisher Pearson is rumoured to be the favourite to take a steak in online multimedia curriculum service provider Espresso following an article in the Independent on Sunday.
PricewaterhouseCoopers, who have been tasked with finding potential investors for Expresso have been in contact with a number of interested parties, but Pearson, owner of Penguin books and The FT have emerged as hot favourite, in a bid to strengthen their publishing arm and move further into multimedia delivery.
Espresso is looking for additional cash to fund international growth of their core multimedia service. Chief executive Lewis Bronze, company co-founder, is positive about the move:
This is a highly positive development in the company’s evolution and I am fully committed to driving it forward, and key to that is getting the right partner. We have a unique service and we want to take the company to more places around the world.
Despite the fact that Espresso is already moving into international markets, the company feels it needs the ability to grow rapidly to take advantage of opportunities while they are available. With many international Government’s now cottoning onto digital cirricilum delivery, Espresso feels it needs to move fast to secure strong market positions that mirror its standing in the UK education industry.
