Princeton, NJ (USA), July 2007 - Educational Testing Service (ETS), the world's largest educational assessment and research organization, is acquiring Thomson Prometric, the global leader in technology-enabled testing and assessment services. Prometric is part of The Thomson Corporation. ETS is Prometric's largest customer for technology-based delivery of tests and assessments.
Prometric delivers ETS's TOEFL® - Test of English as a Foreign Language™, the GRE® - Graduate Record Examinations® tests, and the Praxis™ teacher licensing assessments. Thomson Prometric delivers assessments directly to candidates via the web and through a global network of testing centers in 132 countries.
Prometric has an extensive and diversified customer portfolio in the academic, professional, governmental, corporate, and information technology markets. ETS is acquiring Prometric for $435 million, pending regulatory approval. Prometric had annual revenues of $317 million in 2006. The transaction is expected to close in the third quarter of 2007.
"Prometric is uniquely positioned at the intersection of ETS's commitment to deliver high-quality products and services through access to this strategically valuable, worldwide technology-based delivery channel," explains ETS President and CEO Kurt Landgraf. "Acquiring Prometric expands our footprint and strengthens ETS's position in the global marketplace for delivering technology-based testing and assessment services."
"We look forward to providing high-quality services, products, and innovative solutions to Prometric's premier clients, which include some of the largest corporations, organizations, and government agencies in the world," Landgraf adds. "We will work closely with these valued clients to ensure we are aligned with their strategies and goals. They can rely on the unique strengths of Prometric and ETS to help them achieve long-term growth and success."
"ETS is a good strategic fit and well-aligned with our business and our goals," said Michael Brannick, President and CEO of Prometric. "ETS knows our industry well and will help strengthen Prometric's business by acting as a catalyst to our growth. We are excited and optimistic about the opportunities new ownership will bring."
Prometric will operate as a wholly-owned, for-profit subsidiary of ETS. Credit Suisse Securities (USA) LLC acted as financial advisor to ETS with respect to its acquisition of Prometric.
