McGraw-Hill Education

For the business and financial information company, see McGraw Hill Financial. For other uses, see McGraw-Hill (disambiguation).
McGraw-Hill Education

The branded McGraw-Hill Education logo after separation from McGraw-Hill Financial.
Founded 1888
Founder James H. McGraw
John A. 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, Group President, U.S. Education[4]
Publication types Adaptive learning technology, Educational software, Platform services, curriculum, and Books
Owner(s) Apollo Global Management
Number of employees 5,000+
Official website www.mheducation.com

McGraw-Hill Education (MHE) is an American learning science company and one of the "big three" educational publishers[5][6] 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 28 countries, has more than 4,800 employees globally, and offers products and services to over 135 countries in nearly 60 languages.

Formerly a division of The McGraw-Hill Companies, now S&P Global, McGraw-Hill Education was divested from McGraw Hill Financial and acquired by Apollo Global Management in March 2013 for $2.4 billion in cash.[7][8][9][10][11]

Based on the growing demand for classroom technology, McGraw-Hill Education has transitioned from a print-based business model to one based on delivering digital content and technology-enabled learning solutions.[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 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 after acquiring 20 percent equity stake in Area9 Aps went on to acquire the company, its development partner on the LearnSmart Advantage suite.[14] In 2015 MHE opened a new R&D office in Boston’s innovation district.[15][16] In September 2016 the company acquired adaptive learning technology and content provider Redbird Learning. [17] The company currently offers over 1,500 adaptive products in higher education and digital formats for its major K-12 programs.

Corporate history

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.[18] 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.[19]

In 1979 McGraw-Hill Publishing Company purchased Byte 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.[20]

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.[21] On March 22, 2013, it announced it had completed the sale and the proceeds were for $2.4 billion in cash.[22]

In 2014, McGraw Hill Education India partnered with GreyCampus to promote Online Learning Courses among University Grants Commission- National eligibility Test Aspirants.[23]

McGraw Hill Education India is located in Noida area of Delhi/NCR. The company also sells books online at www.mheducation.co.in

On June 30, 2015 McGraw-Hill Education announced that Data Recognition Corporation (DRC) had agreed to acquire "key assets" of the CTB/McGraw-Hill assessment business.[24]

Corporate organization

Operating segments of McGraw-Hill Education include:

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. The company is now known as McGraw Hill Education in India as well.

Acquisitions

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[37] -
1928 A.W. Shaw Company[37] Publisher of magazines and textbooks
1950s Gregg Company[37] Publisher of vocational textbooks
1953 Companies of Warren C Platts, including Platts[37][38] Publisher of petroleum industry information
1961 F.W. Dodge Corporation[39] Publisher of construction industry information
1965 California Test Bureau[37] Developer of educational testing systems
1966 Standard & Poor's[39] Financial Services
1966 Shepard's Citations[40] Legal publisher
1968 National Radio Institute Correspondence School
1970 The Ryerson Press Educational and trade publishing
1972 Television Stations of Time Life Broadcasting[39] Broadcasting
1986 The Economy Company Educational publishing
1996 Random House Schools and Colleges[41] Educational publishing
1996 Times Mirror Higher Education[42] Educational publishing
1997 Micropal Group Limited[43] Financial Services
1999 Appleton & Lange[44] Publisher of medical information
2000 Tribune Education, including NTC/Contemporary[45] Publisher of supplementary educational materials
2002 Open University Press University press - academic publications
2005 J.D. Power & Associates[46] Marketing information provider
2013 Key Curriculum[47] Math technology firm
2013 ALEKS[48] Adaptive learning firm
2014 Area9 Aps[49] Adaptive learning firm
2014 Engrade[50] Learning management system
2016 Redbird Advanced Learning[51] Adaptive learning firm

Presidents of the company

Controversies

In October 2015, McGraw-Hill Education was accused of whitewashing history after it had published a caption in a geography textbook referring to American slaves as "workers."[52] The company quickly apologized, updated the digital version of the materials, and offered schools replacement texts at no charge.[53] Since the controversy began in Houston, it has been linked to broader controversies about conservative texts at the Texas Education Agency.[54]

See also

References

  1. ↑ "McGraw-Hill Education names David Levin as CEO". Retrieved January 13, 2014.
  2. ↑ "United Business Media chief David Levin moves to McGraw-Hill". Financial Times. Retrieved January 13, 2014.
  3. ↑ "McGraw-Hill Education Appoints David Levin as Chief Executive Officer". Wall Street Journal. Retrieved January 13, 2014.
  4. ↑ "Executive Changes at McGraw-Hill Education". publishersweekly.com. Retrieved November 18, 2014.
  5. ↑ Davis, Michelle R. "'Big Three' Publishers Rethink K-12 Strategies". Education Week. Retrieved March 25, 2014.
  6. ↑ Noonoo, Stephen. "How 'Big Three' Publishers Are Approaching iPad Textbooks". THE Journal. Retrieved March 25, 2014.
  7. ↑ "McGraw-Hill Financial 2013 Annual Report" (PDF).
  8. ↑ Henry, David. "McGraw-Hill sells textbook unit to private equity". Reuters. Retrieved March 25, 2014.
  9. ↑ "McGraw-Hill completes sale of education division". Businessweek. March 22, 2013. Retrieved March 25, 2014.
  10. ↑ "McGraw-Hill Sells Education Unit To Apollo: Bellwether For Educational Publishing?". Forbes. November 28, 2012. Retrieved March 25, 2014.
  11. ↑ Robinson, Matt (March 22, 2013). "McGraw-Hill Closes $2.4 Billion Education Unit Sale to Apollo". Bloomberg. Retrieved March 25, 2014.
  12. ↑ Tim Feran (October 24, 2013). "Textbook publisher McGraw-Hill writing digital future". Columbus CEO. Retrieved March 25, 2014.
  13. ↑ "McGraw-Hill Education Agrees to Acquire ALEKS Corporation, Developer of Adaptive Learning Technology... - NEW YORK, June 20, 2013". PRNewswire. Retrieved March 25, 2014.
  14. ↑ "McGraw-Hill Acquires 20% Stake In Area9, The Adaptive Learning Company Behind Its New Smart eBooks". TechCrunch. January 24, 2013. Retrieved March 25, 2014.
  15. ↑ "McGraw-Hill Education to open office in Boston's Innovation District". The Boston Globe. June 3, 2013. Retrieved March 25, 2014.
  16. ↑ McGraw-Hill Education June 3, 2013 9:00 AM (June 3, 2013). "McGraw-Hill Education Opens Technology R&D Center in Boston's "Innovation District"". Yahoo Finance. Retrieved March 25, 2014.
  17. ↑ "McGraw-Hill Education Acquires Redbird Advanced Learning, A Digital Personalized Learning Provider for K-12". September 30, 2016. Retrieved October 12, 2016.
  18. ↑ "About Us: Corporate History: The Foundation". Retrieved May 26, 2007.
  19. ↑ Tipton, David (July 3, 1986). "McGraw Hill Buying The Economy Company". The Journal Record.
  20. ↑ "About Us: Corporate History: The Information Age". Retrieved May 26, 2007.
  21. ↑ "McGraw-Hill to Sell Education Unit to Apollo for $2.5 Billion", New York Times, November 26, 2012.
  22. ↑ "News Release - McGraw Hill Financial". Investor.mhfi.com. Retrieved October 30, 2013.
  23. ↑ "McGraw Hill-GreyCampus Partnership".
  24. ↑ "Data Recognition Corporation (DRC) Announces Agreement To Acquire Key Assets of the CTB Assessment Business of McGraw-Hill Education".
  25. ↑ "McGraw-Hill Education Agrees to Buy Adaptive Learning Technology Firm - WSJ.com". Wall Street Journal. June 20, 2013. Retrieved March 25, 2014.
  26. ↑ "McGraw-Hill Education Buys ALEKS Adaptive Learning Software". InformationWeek. Retrieved March 25, 2014.
  27. ↑ Bolkan, Joshua. "McGraw-Hill Buys Adaptive Learning Developer". THE Journal. Retrieved March 25, 2014.
  28. ↑ "McGraw-Hill Acquires Adaptive Learning Company". Inside Higher Ed. February 10, 2014. Retrieved March 25, 2014.
  29. ↑ Collins, Allison (February 7, 2014). "McGraw-Hill Ed Buys Rest of Area9 - Mergers & Acquisitions". The Middle Market. Retrieved March 25, 2014.
  30. ↑ "McGraw Hill Acquires Adaptive Learning Company Area9 Aps | EdSurge News". Edsurge.com. February 6, 2014. Retrieved March 25, 2014.
  31. ↑ "McGraw-Hill Buys Engrade For ~$50M As It Moves Away From Textbooks, Towards A Future Of SaaS". TechCrunch. February 9, 2014. Retrieved March 25, 2014.
  32. ↑ "McGraw-Hill Education to Acquire K-12 Educational Platform - WSJ.com". Online.wsj.com. February 3, 2014. Retrieved March 25, 2014.
  33. ↑ Tomassini, Jason (August 2, 2012). "McGraw-Hill Acquires Math Technology Company Key Curriculum - Marketplace K-12". Education Week. Retrieved March 25, 2014.
  34. ↑ "McGraw-Hill Education Buys Key Curriculum". Publishers Weekly. August 2, 2012. Retrieved March 25, 2014.
  35. ↑ Pilkington, Mercy (March 3, 2014). "StudySync, McGraw Hill Team Up on Digital ELA Materials". GoodEreader. Retrieved June 10, 2014.
  36. ↑ "StudySync and McGraw-Hill Education Collaborate to Offer Engaging Digital Learning Products for English Language Arts". Publishers Weekly. March 3, 2014. Retrieved June 10, 2014.
  37. 1 2 3 4 5 "About Us: Corporate History: Development". Retrieved May 26, 2007.
  38. ↑ "Platts History". Archived from the original on May 2, 2007. Retrieved May 26, 2007.
  39. 1 2 3 "About Us: Corporate History: Expansion". Retrieved May 26, 2007.
  40. ↑ "The McGraw-Hill Companies Timeline". Retrieved August 23, 2014.
  41. ↑ Edwin McDowell (September 29, 1988). "McGraw-Hill Is Buying 2 Random House Units". The New York Times.
  42. ↑ Iver Peterson (July 4, 1996). "Times Mirror in Two Deals To Bolster Legal Publisher". The New York Times. Retrieved September 1, 2009.
  43. ↑ "The McGraw-Hill Companies to Acquire Micropal". Retrieved May 26, 2007.
  44. ↑ "The McGraw-Hill Companies Completes Acquisition of Appleton & Lange". Retrieved May 26, 2007.
  45. ↑ "The McGraw-Hill Companies To Acquire Tribune Education; Acquisition Strengthens McGraw-Hill Education's Leadership Position". Retrieved May 26, 2007.
  46. ↑ "The McGraw-Hill Companies Completes Acquisition of J.D. Power and Associates". Retrieved May 26, 2007.
  47. ↑ "McGraw-Hill Acquires Math Technology Company Key Curriculum". Retrieved June 18, 2014.
  48. ↑ "McGraw-Hill Education Agrees to Buy Adaptive Learning Technology Firm". Retrieved June 18, 2014.
  49. ↑ "McGraw-Hill Acquires Adaptive Learning Company". Retrieved June 18, 2014.
  50. ↑ "McGraw-Hill Buys Engrade For ~$50M As It Moves Away From Textbooks, Towards A Future Of SaaS". Retrieved June 18, 2014.
  51. ↑ "McGraw-Hill Education Acquires Redbird Advanced Learning, A Digital Personalized Learning Provider for K-12". Retrieved September 30, 2016.
  52. ↑ Basu, Tanya (October 4, 2015). "Textbook Company to Update Description of Slaves as 'Workers' After Criticism". Time. Retrieved October 5, 2015.
  53. ↑ Hauser, Christine (October 5, 2015). "Publisher Promises Revisions After Textbook Refers to African Slaves as 'Workers'". The New York Times. Retrieved October 5, 2015.
  54. ↑ Mcafee, Melonyce (October 4, 2015). "McGraw-Hill to rewrite textbook after mom's complaint". CNN. Retrieved October 5, 2015. Texas has been a battleground in the fight over changes to textbooks that some say concede too much ground to conservative viewpoints on subjects such as climate change, religious liberty and slavery.
This article is issued from Wikipedia - version of the 11/20/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.