A new Irish public limited company, HM Rivergroup, has been formed after the completion of the merger of Houghton Mifflin and Riverdeep.
Educational software publisher Riverdeep bought US textbook publisher Houghton Mifflin for about $1.75 billion in cash and the assumption of about $1.61 billion in net debt, from a group of private investment firms.
Riverdeep, which was controlled by HM Rivergroup chairman Barry O'Callaghan, was acquired in a share-for-share exchange valuing Riverdeep at $1.2 billion, including debt.
HM Rivergroup will be headquartered in Dublin, with its largest US office located in Boston.
