HM Rivergroup PLC Announces the Completion of the Previously Announced Acquisitions of Houghton Mifflin Company and Riverdeep Holdings Limited.DUBLIN, Ireland & SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden & BOSTON -- HM Rivergroup PLC, a newly-formed Irish public limited company, announced today that it has completed the acquisitions of Houghton Mifflin Houghton Mifflin Company is a leading educational publisher in the United States. The company's headquarters is located in Boston's Back Bay. It publishes textbooks, instructional technology materials, assessments, reference works, and fiction and non-fiction for both young readers Holding Company, Inc. and Riverdeep Holdings, Limited. With the transactions now completed, HM Rivergroup PLC will change its name to Houghton Mifflin Riverdeep Group PLC. Houghton Mifflin Holding Company, a leading U.S. educational publisher, was acquired for approximately $1.75 billion in cash plus the assumption of approximately $1.61 billion in net debt, from affiliates of private investment firms Thomas H. Lee Partners  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Thomas H. , Bain Capital Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the former Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. Partners, and The Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, , and management. Riverdeep Holdings Limited, a leading U.S. publisher of branded interactive educational and personal publishing See blog, wiki and citizen journalism. products controlled by Barry O'Callaghan, executive chairman of HM Rivergroup PLC, was acquired in a share-for-share exchange valuing Riverdeep at approximately $1.2 billion, including the assumption of net debt. "We are thrilled to announce the completion of the agreement to merge these two industry leaders that share complementary assets and a common vision for the future of education. Through the powerful combination of Houghton Mifflin's superior basal content and sales force and Riverdeep's leading interactive courseware Interactive CourseWare - (ICW) A training program controlled by a computer that relies on trainee input to determine the order and pace of instruction delivery. The trainee advances through the sequence of instructional events by making decisions and selections. , we will be able to offer customers the most comprehensive, flexible and innovative educational solutions available from one company," said Tony Lucki, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Houghton Mifflin, and vice chairman of HM Rivergroup PLC. "HM Rivergroup PLC will be a global company with significant future growth opportunities and the most competitive product offerings in the industry," said O'Callaghan. HM Rivergroup PLC will be headquartered in Dublin, with its largest U.S. office located in Boston. About Riverdeep Holdings Limited Riverdeep Holdings Limited, with offices in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] ; Cedar Rapids, Iowa; Dublin, Ireland; and Manchester, United Kingdom, is a leading publisher of interactive products focusing on education and personal productivity for the consumer and school markets. Riverdeep's rich portfolio of interactive, award-winning products feature such well-known brands as the Destination Success([R]) solution, which includes Destination Math([R]) and Destination Reading([R]); The Print Shop([R]); Reader Rabbit([R]) and Kid Pix([R]). For more information visit www.riverdeep.net. About Houghton Mifflin Boston-based Houghton Mifflin Company is one of the leading educational publishers in the United States, with more than $1 billion in sales. Houghton Mifflin publishes textbooks, instructional technology, assessments and other educational materials for elementary and secondary schools and colleges. The Company also publishes an extensive line of reference works and award-winning fiction and nonfiction for adults and young readers. With its origins dating back to 1832, Houghton Mifflin combines its tradition of excellence with a commitment to innovation. The company's website can be found at www.hmco.com. |
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