Pearson is the former publishing company of Financial Times, which it sold to Japan’s Nikkei in 2015.
The two sides have not disclosed any details about the deal. The press release does not specify Mondly is from Romania, with the British side underscoring the app is growing fast and is profitable and will aid Pearson step up revenue growth.
The company behind Mondly, ATI STUDIOS A.P.P.S. SRL, equally owned by the two brothers, in 2019 reported turnover of almost RON42 million and RON7 million net profit, equivalent to a 17% margin.
The company will become part of Pearson’s English learning unit, including its team and founders.
“We are delighted to join forces with Pearson, the world’s largest learning company, to help us reach our objective at a much higher scale. Together we will work to shape the future of foreign language learning,” stated Alex Iliescu, Mondly CEO and co-founder.
(English version by Catalina Apostoiu)