Houghton Mifflin Harcourt Learning Technology - Reed Elsevier

Reed Elsevier

In July 2007, Reed Elsevier (an information and publishing group) offloaded Harcourt US Schools Education business to Houghton Mifflin, Inc. for $4.0 billion, with $3.7 billion payable in cash and $0.3 billion payable in common stock of Houghton Mifflin, Inc.

Houghton Mifflin was privately held. Existing investors put up $23 million of equity financing to help to meet the $3.7 billion cash requirement for the purchase. Reed took a $300 million stake in Houghton Mifflin, Inc., which left it with 11.8 per cent of the common stock in the enlarged company.

The combined business became known as Houghton Mifflin Harcourt (HMH), and a new holding company, EMPG, was created. The Riverdeep name is no longer used by HMH.