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Thomson Acquires McGraw-Hill
Lifetime Learning Assets
Thomson Continues Expansion of its Enterprise-Wide, End-to-End Learning Solutions
- Creating World's Largest Library of Courseware
Naperville, Ill., June 19, 2002- The Thomson Corporation (NYSE, TSX: TOC),
the world's largest provider of corporate and professional learning solutions,
today announced that it has acquired select courseware, technology and e-learning
assets from McGraw-Hill's Lifetime Learning division, part of The McGraw-Hill
Companies (NYSE: MHP). The acquisition adds significant branded and mission
critical content to the Thomson portfolio of offerings, creating the largest
and most comprehensive set of enterprise-wide, end-to-end learning solutions
available globally. Specific terms of the deal were not disclosed.
"When you serve thousands of the world's leading businesses, including
the vast majority of the Fortune 500, it's clear that employees' knowledge and
skills have become a company's most critical competitive advantage. We are living
in a knowledge economy where a corporation's ability to accelerate the development
of human capital in complete alignment with business objectives is vital to
success," said Alex Brnilovich, president and CEO of Thomson Enterprise
Learning. "In adding this leading content and branded courses to our enterprise
solutions, we further expand our ability to meet customers' demand for the very
best learning content integrated into a more strategic enterprise-wide learning
program. We are turning corporate learning into corporate empowerment."
The addition of these leading courses - encompassing everything from improving
sales performance and call center operations to helping ensure workplace compliance
- represents the continued focus Thomson takes in providing corporate clients
with new tools for driving growth and achieving competitive advantage.
The Thomson branded learning approach includes well-known authors, academics,
and business leaders who develop timely, issue-oriented courses. The result
is learners more engaged in content that addresses relevant and mission crucial
business needs in an innovative, cohesive and high quality fashion. For example,
the new content incorporates such subject matter
- Avaya for call center and CRM contact center courses;
- Fortune 500 consultant Dianna Booher for sales and communications courses;
- Xebec for business skills courses in multiple languages including their
entire multi-lingual library;
ELI for legal compliance training, civil treatment and human resource management courses; Harvard University's Manage Mentor online multi-lingual resource that covers 28 key business topics.
"These courses were developed by recognized thought leaders in response
to real business problems. They help employees acquire new skills and parlay
that knowledge into increased sales, improved profitability and better overall
business performance," said Brnilovich.
"The need for professional education has never been greater. The increasing
skill base of today's workforce, combined with the blending of business disciplines
and corporate pressures for financial growth result in a solid and sustained
demand for high quality professional development," said Cushing Anderson,
senior analyst at IDC. "The stable of subject matter experts from important
business areas that contribute to this library combined with the broader assets
and global capability Thomson offers, put it in an industry-leading position
to capitalize on this continued market growth. Thomson is in a position to provide
end-to-end learning solutions and strong branded content to the largest companies
in the world."
While, the acquisition
will enable Thomson to continue its focus on providing learning solutions that
link job performance to business objectives. The courses will be available
through Thomson Enterprise Learning businesses, including NETg (http://www.netg.com) and Thomson Enterprise Solutions
The Thomson Corporation (www.thomson.com), with 2001 revenues of $7.2 billion,
is a global leader in providing integrated information solutions to business
and professional customers. Thomson provides value-added information, software
applications and tools to more than 20 million users in the fields of corporate
training, assessment and testing, higher education, reference information, law,
tax, accounting, financial services, and scientific research and healthcare.
The Corporation's common shares are listed on the New York and Toronto stock
exchanges (NYSE, TSX: TOC).