McGraw-Hill Education

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McGraw-Hill Education
McGraw Hill Education Logo.jpg
The branded McGraw-Hill Education logo after separation from McGraw-Hill Financial.
Founded 1888
Founder James McGraw
John Hill
Country of origin United States
Headquarters location 2 Pennsylvania Plaza
New York City
Key people David Levin, President and CEO[1][2][3]
Peter Cohen, President, McGraw-Hill Education School[4]
Philip R. Ruppel, President, McGraw-Hill Education Professional[5]
Publication types Books
Owner(s) Apollo Global Management
Number of employees 6,000+
Official website www.mheducation.com

McGraw-Hill Education (MHE) is a digital learning company and one of the "big three" educational publishers[6][7] that provides customized educational content, software and services for pre-K through postgraduate education. The company also provides reference and trade publications for the medical, business and engineering professions. McGraw-Hill Education currently operates in 44 countries, has 6,000 employees globally, and offers products and services in 60 languages.

Formerly a division of The McGraw-Hill Companies, McGraw-Hill Education was divested from McGraw-Hill Financial and acquired by Apollo Global Management in March 2013 for $2.5 billion in cash.[8][9][10][11] Based on the growing demand for technology in K-12 and college classrooms, McGraw-Hill Education is transitioning from a print-based business model to customized content sold through subscriptions and other business models.[12] This shift has accelerated in recent years with an increased focus on developing adaptive learning systems that enable classroom teaching to come closer to a one-to-one student-teacher interaction. These systems allow personalized student learning by assessing each student's skill level and using data to determine how each can progress through lessons most effectively. McGraw-Hill Education provides digital products and services to over 11 million users. In 2013, the company acquired the ALEKS Corporation [13] and a 20 percent equity stake in Area9 Aps, its development partner on the LearnSmart Advantage suite.[14] MHE also opened a new R&D office in Boston’s innovation district.[15][16]

Corporate history[edit]

McGraw-Hill Education traces its history back to 1888 when James H. McGraw, co-founder of the company, purchased the American Journal of Railway Appliances. He continued to add further publications, eventually establishing The McGraw Publishing Company in 1899. His co-founder, John A. Hill, had also produced several technical and trade publications and in 1902 formed his own business, The Hill Publishing Company.

In 1909 both men agreed upon an alliance and combined the book departments of their publishing companies into The McGraw-Hill Book Company. John Hill served as President, with James McGraw as Vice-President. 1917 saw the merger of the remaining parts of each business into The McGraw-Hill Publishing Company, Inc.[17] In 1986, McGraw-Hill bought out competitor The Economy Company, then the nation's largest publisher of educational material. The buyout made McGraw-Hill the largest educational publisher in the U.S.[18]

In 1979 McGraw-Hill Publishing Company purchased Byte (magazine) from its owner/publisher Virginia Williamson who then became a vice-president of McGraw-Hill.

McGraw-Hill Publishing Company, Inc became The McGraw-Hill Companies in 1995, as part of a corporate identity rebranding.[19][not in citation given]

In 2007, The McGraw-Hill Companies launched an online student study network, GradeGuru.com. This offering gave McGraw-Hill an opportunity to connect directly with its end users, the students. The site closed on April 29, 2012.

On November 26, 2012, The McGraw-Hill Companies announced it was selling its entire education division to Apollo Global Management for $2.5 billion.[20] On March 22, 2013 it announced it had completed the sale and the proceeds were for $2.4 billion cash.[21]

Corporate organization[edit]

Divisions of McGraw-Hill Education include:

  • McGraw-Hill Education Higher Ed (MHHE)
  • McGraw-Hill Education School (MHES)
  • CTB/McGraw-Hill
  • McGraw-Hill Education Professional (MHP)
  • McGraw-Hill Education International (MHEI)

Other major subsidiaries, partners and investments:

McGraw-Hill Education is also established in Asia, Australia, Canada (as McGraw Hill Ryerson) Europe, India, and Latin America (as McGraw-Hill Interamericana). In 2013, McGraw-Hill Education acquired the entirety of shares in Tata McGraw-Hill Education Private Limited, the company's long-existing joint venture with Tata Group in India.

Acquisitions[edit]

During the course of its history, the McGraw-Hill Companies expanded significantly through acquisition, not just within the publishing industry but also into other areas such as financial services (the purchase of Standard & Poor's in 1966) and broadcasting (the 1972 acquisition of Time-Life Broadcasting). Many of these acquisitions stayed with McGraw-Hill Education after their acquisition by Apollo Global Management in 2013.

Date of acquisition Asset acquired Industry
1920 Newton Falls Paper Company[34] -
1928 A.W. Shaw Company[34] Publisher of magazines and textbooks
1950s Gregg Company[34] Publisher of vocational textbooks
1953 Companies of Warren C Platts, including Platts[34][35] Publisher of petroleum industry information
1961 F.W. Dodge Corporation[36] Publisher of construction industry information
1965 California Test Bureau[34] Developer of educational testing systems
1966 Standard & Poor's[36] Financial Services
1966 Shepard's Citations[37] Legal publisher
1968 National Radio Institute Correspondence School
1970 The Ryerson Press Educational and trade publishing
1972 Television Stations of Time Life Broadcasting[36] Broadcasting
1986 The Economy Company Educational publishing
1996 Random House Schools and Colleges[38] Educational publishing
1996 Times Mirror Higher Education[39] Educational publishing
1997 Micropal Group Limited[39] Financial Services
1999 Appleton & Lange[40] Publisher of medical information
2000 Tribune Education, including NTC/Contemporary[41] Publisher of supplementary educational materials
2002 Open University Press University press - academic publications
2005 J.D. Power & Associates[42] Marketing information provider
2013 Key Curriculum[43] Math technology firm
2013 ALEKS[44] Adaptive learning firm
2014 Area9 Aps[45] Adaptive learning firm
2014 Engrade[46] Gradebook SaaS

Presidents of the company[edit]

References[edit]

  1. ^ "McGraw-Hill Education names David Levin as CEO". Retrieved 2014-01-13. 
  2. ^ "United Business Media chief David Levin moves to McGraw-Hill". Financial Times. Retrieved 2014-01-13. 
  3. ^ "McGraw-Hill Education Appoints David Levin as Chief Executive Officer". Wall Street Journal. Retrieved 2014-01-13. 
  4. ^ "Cohen Bullish on Path Forward for McGraw-Hill Education". EdWeek.org. Retrieved 2014-06-10. 
  5. ^ "Executive Profile, Philip Ruppel". Bloomberg Businessweek. Retrieved 2014-04-02. 
  6. ^ Davis, Michelle R. "Education Week: 'Big Three' Publishers Rethink K-12 Strategies". Edweek.org. Retrieved 2014-03-25. 
  7. ^ Noonoo, Stephen. "How 'Big Three' Publishers Are Approaching iPad Textbooks". THE Journal. Retrieved 2014-03-25. 
  8. ^ Henry, David. "McGraw-Hill sells textbook unit to private equity". Reuters. Retrieved 2014-03-25. 
  9. ^ March 22, 2013 (2013-03-22). "McGraw-Hill completes sale of education division". Businessweek. Retrieved 2014-03-25. 
  10. ^ "McGraw-Hill Sells Education Unit To Apollo: Bellwether For Educational Publishing?". Forbes. 2012-11-28. Retrieved 2014-03-25. 
  11. ^ Robinson, Matt (2013-03-22). "McGraw-Hill Closes $2.4 Billion Education Unit Sale to Apollo". Bloomberg. Retrieved 2014-03-25. 
  12. ^ Tim Feran (2013-10-24). "Textbook publisher McGraw-Hill writing digital future". Columbus CEO. Retrieved 2014-03-25. 
  13. ^ "McGraw-Hill Education Agrees to Acquire ALEKS Corporation, Developer of Adaptive Learning Technology... - NEW YORK, June 20, 2013 /PRNewswire/". Prnewswire.com. Retrieved 2014-03-25. 
  14. ^ "McGraw-Hill Acquires 20% Stake In Area9, The Adaptive Learning Company Behind Its New Smart eBooks". TechCrunch. 2013-01-24. Retrieved 2014-03-25. 
  15. ^ "McGraw-Hill Education to open office in Boston’s Innovation District - Business". The Boston Globe. 2013-06-03. Retrieved 2014-03-25. 
  16. ^ McGraw-Hill Education June 3, 2013 9:00 AM (2013-06-03). "McGraw-Hill Education Opens Technology R&D Center in Boston's "Innovation District" - Yahoo Finance". Finance.yahoo.com. Retrieved 2014-03-25. 
  17. ^ "About Us: Corporate History: The Foundation". Retrieved May 26, 2007. 
  18. ^ Tipton, David (1986-07-03). "McGraw Hill Buying The Economy Company". The Journal Record. 
  19. ^ "About Us: Corporate History: The Information Age". Retrieved May 26, 2007. 
  20. ^ [1], "New York Times", November 26, 2012.
  21. ^ "News Release - McGraw Hill Financial". Investor.mhfi.com. Retrieved 2013-10-30. 
  22. ^ "McGraw-Hill Education Agrees to Buy Adaptive Learning Technology Firm - WSJ.com". Online.wsj.com. 2013-06-20. Retrieved 2014-03-25. 
  23. ^ "McGraw-Hill Education Buys ALEKS Adaptive Learning Software". InformationWeek. Retrieved 2014-03-25. 
  24. ^ Bolkan, Joshua. "McGraw-Hill Buys Adaptive Learning Developer". THE Journal. Retrieved 2014-03-25. 
  25. ^ Post a Job (2014-02-10). "McGraw-Hill Acquires Adaptive Learning Company". Inside Higher Ed. Retrieved 2014-03-25. 
  26. ^ Collins, Allison (2014-02-07). "McGraw-Hill Ed Buys Rest of Area9 - Mergers & Acquisitions". Themiddlemarket.com. Retrieved 2014-03-25. 
  27. ^ "McGraw Hill Acquires Adaptive Learning Company Area9 Aps | EdSurge News". Edsurge.com. 2014-02-06. Retrieved 2014-03-25. 
  28. ^ "McGraw-Hill Buys Engrade For ~$50M As It Moves Away From Textbooks, Towards A Future Of SaaS". TechCrunch. 2014-02-09. Retrieved 2014-03-25. 
  29. ^ "McGraw-Hill Education to Acquire K-12 Educational Platform - WSJ.com". Online.wsj.com. 2014-02-03. Retrieved 2014-03-25. 
  30. ^ Tomassini, Jason (2012-08-02). "McGraw-Hill Acquires Math Technology Company Key Curriculum - Marketplace K-12 - Education Week". Blogs.edweek.org. Retrieved 2014-03-25. 
  31. ^ "McGraw-Hill Education Buys Key Curriculum". Publishersweekly.com. 2012-08-02. Retrieved 2014-03-25. 
  32. ^ Pilkington, Mercy (2014-03-03). "StudySync, McGraw Hill Team Up on Digital ELA Materials". GoodEreader.com. Retrieved 2014-06-10. 
  33. ^ "StudySync and McGraw-Hill Education Collaborate to Offer Engaging Digital Learning Products for English Language Arts". Publishersweekly.com. 2014-03-03. Retrieved 2014-06-10. 
  34. ^ a b c d e "About Us: Corporate History: Development". Retrieved May 26, 2007. 
  35. ^ "Platts History". Retrieved May 26, 2007. [dead link]
  36. ^ a b c "About Us: Corporate History: Expansion". Retrieved May 26, 2007. 
  37. ^ "The McGraw-Hill Companies Timeline". Retrieved 2014-08-23. 
  38. ^ Edwin McDowell (September 29, 1988). "McGraw-Hill Is Buying 2 Random House Units". The New York Times. 
  39. ^ a b Iver Peterson (July 4, 1996). "Times Mirror in Two Deals To Bolster Legal Publisher". The New York Times. Retrieved September 1, 2009. 
  40. ^ "The McGraw-Hill Companies Completes Acquisition of Appleton & Lange". Retrieved May 26, 2007. 
  41. ^ "The McGraw-Hill Companies To Acquire Tribune Education; Acquisition Strengthens McGraw-Hill Education's Leadership Position". Retrieved May 26, 2007. 
  42. ^ "The McGraw-Hill Companies Completes Acquisition of J.D. Power and Associates". Retrieved May 26, 2007. 
  43. ^ "McGraw-Hill Acquires Math Technology Company Key Curriculum". Retrieved June 18, 2014. 
  44. ^ "McGraw-Hill Education Agrees to Buy Adaptive Learning Technology Firm". Retrieved June 18, 2014. 
  45. ^ "McGraw-Hill Acquires Adaptive Learning Company". Retrieved June 18, 2014. 
  46. ^ "McGraw-Hill Buys Engrade For ~$50M As It Moves Away From Textbooks, Towards A Future Of SaaS". Retrieved June 18, 2014.