The Financial Newspaper owner, Pearson Plc, has agreed to pay $230 million in cash for the purchase of education- technology company Schoolnet.

New York based Schoolnet Company is serving for more than 5 million students from pre-kindergarten stage to 12th grade in U. S. for boosting their leanings at schools.

Pearson, which also owns the Penguin, the book publisher, has 80% income from the education in 2010.

Since last 12 months, Pearson has either acquired 9 companies or has offered them, including the companies in the countries like U. K., India, South Africa and the U. S.

In London trading, the shares of the company rose by 1.6% to 1,149 pence. During the current year, the acquisition will remain neutral on the basis of earning per share.

The U. S. government supports the use of programs such as Race to the top incorporated with comprehensive data systems.

Pearson’s Chief Executive, Dame Marjorie Scardino, said, “Being able to offer a connective digital spine for learning has been Pearson’s goal for years,” and added “Schoolnet has shared our passion, and together we can make that spine more flexible and powerful for schools, teachers and students”.

Jonathan Harber will continue to hold the position of chief executive of Schoolnet and as senior executive at Pearson.