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Houghton Mifflin Harcourt merges with Veritas Capital

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Houghton mifflin harcourt merges with veritas capital
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Famed educational materials company Houghton Mifflin Harcourt announced this Tuesday that it will merge with affiliates of Veritas Capital. In the deal shareholders of the learning technology are being offered $21 per share, representing a 36% premium over the company’s January, 2022, share price.

Houghton Mifflin Harcourt’s stock was up 15% on the news in midday trading on the NASDAQ stock exchange.

“With accelerating billings growth, strong free cash flow and a transformed cost structure, we are at an important inflection point, and the time is right to move into the next phase of our long-term growth strategy alongside a partner that brings significant industry expertise,” said Jack Lynch, President and Chief Executive Officer of HMH.

The merger represents the fusion of Veritas, a technology investor with a focus on companies operating on the intersection between tech and government and Houghton Mifflin Harcourt one of the world’s principal providers of connected educational solutions serving more than 50 million students in 150 countries.

Tags: Houghton MifflinHoughton Mifflin merger

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