Platinum Equity Acquires McGraw-Hill for $4.5 Billion

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[Asia Economy Reporter Yujin Cho] The Wall Street Journal (WSJ) reported on the 15th (local time) that the US private equity firm Platinum Equity has signed a contract to acquire McGraw Hill from Apollo.

The acquisition price for McGraw Hill, including debt, amounts to approximately $4.5 billion (about 5 trillion KRW).

McGraw Hill, the largest educational publishing group in the US, is an education-specialized company that develops elementary, high school, and professional education textbooks as well as digital learning platforms.

Headquartered in New York City, it distributes its products in over 100 countries worldwide, including North America, Asia, Australia, and South America.

Apollo acquired McGraw Hill in 2012 for about $2.5 billion including debt, and expanded its portfolio into digital-linked education businesses, increasing the company's value by more than 80%.

McGraw Hill's digital segment generates annual sales of approximately $1 billion.

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