|McGraw-Hill Education Acquires Grow Network|
Establishes Leadership Position in Assessment Reporting and Customized Content
NEW YORK, July 19 /PRNewswire-FirstCall/ -- McGraw-Hill Education, a division of The McGraw-Hill Companies, Inc. (NYSE: MHP) today announced the acquisition of Grow Network (Grow.net, Inc.), a privately held company that is a leading provider of assessment reporting and customized content for states and large school districts across the country. Terms of the acquisition were not disclosed.
Grow utilizes proprietary technology to provide customized test reports and instructional materials for students, families, and educators. It currently serves a wide range of states and school districts. Grow's materials provide students, families, and educators with personalized data and instructional recommendations, fully integrated with state academic standards.
"This acquisition is a major step in positioning McGraw-Hill Education as the leader in assessment reporting and customized content. We are excited that Grow will enhance our ability to help educators and families improve student performance. Its unique and proven reporting services help educators respond thoughtfully to the increased accountability and Adequate Yearly Progress requirements associated with No Child Left Behind," said Harold McGraw III, chairman, president and chief executive officer of The McGraw-Hill Companies.
The acquisition supports McGraw-Hill Education's strategy to provide a full range of customized education solutions to help improve teaching and learning. Grow will work closely with other divisions within McGraw-Hill Education, including CTB/McGraw-Hill, the nation's leading provider of assessments, to offer services that are tailored to meet school districts' specific curriculum, assessment, and reporting needs. Grow also will continue to work with other assessment programs selected by its state and school district partners.
Grow will become a unit of the School Education Group of McGraw-Hill Education and will be renamed Grow Network/McGraw-Hill. It will continue to be based in New York, and David Coleman, its chief executive officer, and his team will remain in place.
"We chose McGraw-Hill Education as our home because of the exceptional quality of its assessments and the distinctive depth of its instructional materials. Together with the McGraw-Hill team, Grow can make even more powerful linkages between assessment and instruction that significantly improve teaching and learning," Coleman said.
About McGraw-Hill Education
McGraw-Hill Education is a division of The McGraw-Hill Companies, a global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's and Business Week. The Corporation has more than 280 offices in 40 countries. Sales in 2003 were $4.8 billion. Additional information is available at http://www.mcgraw-hill.com
About Grow Network
Grow Network's mission is to transform assessment into an opportunity for meaningful instruction. Founded in 2000, Grow has quickly grown to become the leading provider of customized solutions that make assessment results truly useful for students, families and educators. Grow's innovative team of educators, designers, statisticians, and technologists has built a proprietary platform for print and web publishing that has achieved breakthroughs in producing thoughtful instructional reports and materials and delivering them quickly and accurately. Additional information is available at http://www.grownetwork.com.