Harcourt General Completes GartnerLearning Acquisition.CHESTNUT HILL Chestnut Hill may refer to: In geography:
See: New York Stock Exchange :H) announced today that its publishing and educational services subsidiary, Harcourt Brace, has completed the previously-announced acquisition of GartnerLearning from GartnerGroup (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GART GART Phosphoribosylglycinamide Formyltransferase/Phosphoribosylglycinamide Synthetase/Phosphoribosylaminoimidazole Synthetase GART Graphics Address Remapping Table (AGP chipset) GART Graphics Address Relocation Table ). GartnerLearning provides training and services for information technology (IT) professionals. Harcourt Brace will merge GartnerLearning with its NETg subsidiary, which also provides IT training and services, creating an IT training company with expected annual revenues in 1999 in excess of $100 million. Under terms of the acquisition agreement, GartnerGroup will retain an 8 percent equity interest in the newly-combined entity. Harcourt General, a leading global multiple-media publisher, provides educational, career-training and assessment products and services to the classroom, corporate, professional and consumer markets. The Company is also a leading specialty retailer through its 53% interest in The Neiman Marcus Neiman Marcus U.S. department-store chain. It was founded in Dallas, Texas, in 1907 by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband, A.L. Neiman. Group (NYSE:NMG NmG No More Gas (Myers Motors electric vehicle) NMG Navy Metrication Group NMG Nuera Media Gateway NMG Network Media Gateway NMG Network Management Gateway NMG Network Measurement Group ). Statements in this release referring to the expected future plans and performance of the Company are forward-looking statements. Actual future results may differ materially from such statements. Factors that could affect future performance include, but are not limited to: changes in economic conditions or consumer confidence; changes in consumer preferences or fashion trends; delays in anticipated store openings; adverse weather conditions, particularly during peak selling seasons; changes in demographic or retail environments; competitive influences; significant increases in paper, printing and postage costs; and changes in the Company's relationships with designers and other resources. For more information, see the Company's filings with the Securities and Exchange Commission.
CONTACT: Harcourt General
Peter Farwell, 617/232-8200
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