Apple Inc (AAPL)

[fmikehugo]

AAPL Apple Computer to sell PowerSchool to Pearson - ThinkSecret (62.77 -0.38) 09:42

ThinkSecret reports the co will sell PowerSchool, its division that develops student information systems for K-12 school districts, to Pearson Assessments, sources have confirmed. The cos have yet to announce the sale, which will be effective June 1. The co informed PowerSchool employees of the sale yesterday morning. Terms of the deal are not known. Five years ago, the co purchased the Folsom, Calif.-based software developer for $62 mln in stock, a play intended to strengthen the Mac maker's hold on K-12 education. But the PowerSchool division had a turbulent life at the co after the acquisition. It saw major layoffs and a mgmt shakeup that included the departure of the company's founder in 2002. The group also discontinued PowerSchool Enterprise, a version of the S.I.S. intended to be scalable for larger school districts.