Pearson, the British multinational publishing and education company, has been leading the industry with its long history and well-established reputation. The company currently is the largest education company and the largest book publisher in the world. In order to be always a step ahead of competitors, Pearson never stopped diversifying its business as well as exploring new potential market.
Recently, the company has been working to launch its education business to a huge emerging market in Latin America. Brazil, one of the world’s largest English language learning markets has become Pearson’s next target. According to the company’s market research, Brazil has an English training market estimated to be worth £2 billion. In addition, 2.8 million students, including children, teenage and adult age groups are interested in learning English. As the middle class growing gradually within the country, the English learning market will have even brighter future. On the top of that, as the 2014 World Cup and 2016 Olympics approaching, there will be more needs for local English speakers.
Pearson was able to seize this great opportunity by taking its first step – purchasing an existing English language training company in Brazil. Grupo Multi, the largest provider for private language school in Brazil, became the lucky one to be chosen. The company currently has more than 2,600 franchised schools and 800,000 students. On December 3, 2013, Pearson announced to the world that the company is paying £440 million ($719.6 million) for 78% of Grupo Multi's share.