Houghton Mifflin agrees to sell College Division to Cengage Learning

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Boston—Houghton Mifflin Co. Monday announced that it has agreed to sell its College Division to Cengage Learning, formerly Thomson Learning, for $750 million in cash. The division publishes textbooks, study guides, technology tools and other materials, primarily for introductory-level college courses. Following the deal's close, Houghton Mifflin and Cengage will enter into a long-term agreement to cooperate in expanding the distribution of Cengage's titles into the high school advanced placement market in the U.S. "The College Division has been an important contributor to Houghton Mifflin for many years, but moving forward we will focus our efforts on our K-12, trade and reference businesses," said Tony Lucki, chairman, president-CEO of Houghton Mifflin, in a news release.
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