Articles

Scholastic Inc. Acquires QED, One of the Country's Leading Education Technology Market Research and Database Firms

By Robert Halper

Jan. 15, 1999

Representing the Sellers and initiating the transaction:
   Martin P. Levin and Robert Halper

Acquisition includes QED's National Database of 3 Million Educators

New York, NY, January 21, 1999 - Scholastic Corporation (NASDAQ:SCHL), a global children's publishing and media company, today announced the acquisition of QED (Quality Education Data) from Peterson's, an International Thomson Publishing company. QED is a leading educational information company which sells exclusive school databases, school demographic data, and research and database marketing services. QED's management, including Jeanne Hayes, President and founder of the company, and her staff, will continue to operate QED from its headquarters in Denver, Colorado. QED will become a wholly-owned subsidiary company reporting to Hugh Roome, Executive Vice President of Scholastic. Terms of the agreement were not disclosed.

Richard Robinson, Chairman, President & CEO of Scholastic said, "We are pleased to acquire QED, the leading educational technology marketing resource. Scholastic's acquisition of QED aligns with our continued commitment to developing high growth technology products and services. Jeanne Hayes and her staff have built QED into a major force in educational marketing, and we are confident that QED will thrive as part of Scholastic."

Founded in 1981, QED's research and database focuses exclusively on K-12 education. QED's National Education Database? is a school and teacher name list which includes U.S. and Canadian K-12 educational institutions. It is the core data resource which supports all of QED's products and services including, custom education market research, database design, and annual research reports tracking critical educational trends. In 1997, QED introduced its National Registry of Teacher Names?, a database of nearly 3 million educators in more than 250 job functions.

"QED is at the forefront of the movement to bring technology to our nation's K-12 schools. As the premier provider of information on post-secondary institutions and career opportunities, Peterson's has a dedicated focus on the college-bound and adult marketplaces. Scholastic, therefore, with its exceptional reputation among educators and as a pioneer in incorporating innovative and effective applications of technologies into schools, is more strategically positioned to support QED's continued growth," said Michael Brannick, President and CEO of Peterson's.

"QED has done business with Scholastic since our inception," said Jeanne Hayes, President of QED. "We are excited about being a part of Scholastic's focus on innovative and -effective applications of technologies in schools. Scholastic's commitment to our work will enable us to provide our customers with even greater levels of insight into the education market."

Scholastic Inc., the global children's publishing and media company, creates and distributes innovative and quality educational materials for use in school - children's books, textbooks, magazines, technology and teacher materials - and engaging and appropriate products for use at home - magazines, software, television programming, videos, and toys. Founded in 1920, Scholastic is one of the largest distributors and publishers of children's books, and is the world leader in school book clubs and book fairs. Internationally, Scholastic operates wholly-owned companies in Canada, the UK, Australia, New Zealand, Mexico, Hong Kong and India.

Visit www.scholastic.com for more information about Scholastic Inc. and www.qeddata.com for more information about QED.

Peterson's is the country's largest educational information/communications company, providing the academic, consumer, and professional communities with books, software, and online services in support of lifelong education access and career choice. Peterson's Web site is petersons.com.

Contact:
Lynn Gardner (212) 343-6833 lgardner@scholastic.com
Chuck Wentzel (212) 343-4627 cwentzel@scholastic.com
For more information please contact:
David Goldberg at (212) 790-9205 or by E-mail.
Robert J. Bernstein at (212) 790-9250 or by E-mail.

Copyright © 1999 Cowan, Liebowitz & Latman, P.C.

Originally published in the January 15, 1999
issue of the New York Law Journal.

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