Pearson, PLC is selling its 50% stake in the FTSE International Ltd. to the London Stock Exchange, PLC for £450 million ($700 million) in cash. Currently, Pearson and London Stock Exchange Group each own 50% of FTSE. The sale is expected to close by 1Q 2012.
Pearson, owner of the Financial Times and book publisher Penguin, said the sale was part of a shift away from financial data and towards news and analysis. Pearson said that the deal will enable it to continue to make targeted acquisitions and expand further into non-English language markets.
Pearson has recently made a series of acquisitions in the learning market, including Global Education and Technology Group, an English-language test company, for $294 million (£188 million) in November. Pearson has gradually withdrawn its stake in financial data firms, most notably its 61-percent stake in Interactive Data Corp. for $2 billion in May 2010.