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Baring Private Equity Asia close to Prometric purchase: Reuters
Posted on Thursday, 07 December 2017 14:11
Baring Private Equity Asia is nearing an agreement to acquire US education test administration firm Prometric from Educational Testing Service, according to Reuters.

Citing people with knowledge of the matter, the news provider said the deal could be worth around USD 1.00 billion, including the assumption of debt.

The sources, who did not wish to be identified as the process is confidential, added that an agreement could be reached later this month.

None of the parties involved have commented on the report at this time.

Educational Testing Services has owned Prometric since October 2007, when it paid USD 435.00 million to buy the business from Thomson Reuters, then known as the Thomson Corporation.

Prometric provides test development and delivery services to more than 350 organisations on a global scale.

The company delivers an average of 7.00 million exams every year and has offices in North America, Asia and Europe.

According to Zephyr, the M&A database published by Bureau van Dijk, there have been 524 deals targeting educational services providers announced worldwide since the beginning of 2017.

Of these, the most valuable was worth USD 1,419 million and involved Bach Finance acquiring Cayman Islands-headquartered Nord Anglia Education back in early September.

Should Baring’s acquisition of Prometric go ahead on the terms reported, it would be the sector’s second-largest deal of the year to date.

Other education services providers targeted during 2017 include US-based Capella Education, which Strayer Education agreed to pick up for USD 933.00 million in late October.

Completion is slated to follow during the third quarter of 2018, subject to the green light from shareholders and regulatory bodies.

UK-headquartered computer training firm, US-based PADI Worldwide and Spanish school operator Nueva Agora Centro de Estudios are also among those in the sector to have been targeted this year.

© Zephus Ltd