McGraw-Hill is one of the renowned American educational publisher and known for long in India for its books released in collaboration with the Tatas. Now American educational publisher is coming out with a new course of the future - in digital learning on its own without any association.
At present the International publishing market is FLAT. So McGraw-Hill, under its new owners, private equity firm Apollo Global Management has invested heavily in digital education. Apollo Global Management acquired the business from McGraw-Hill Companies in March 2013 for 2.4 billion USD (roughly Rs. 15,842 crores)
The recently appointed chief marketing officer of McGraw-Hill Education, Chris Marjara, hired to lead the marketing team through the business model transformation, told in an interview in New Delhi about the changes in the company's 125 year old publishing business.
Marjara said, "It is a time of transformation and change in McGraw Hill Education, with the firm completely repositioning the brand from a book publisher to a learning science company." Further he added, "Here in India, we became independent, bought out the Tatas and invested heavily in digital education.”
Rise of McGraw-Hill Education
If comparison is to be laid then in yester years McGraw-Hill Education was a mere traditional textbook publisher but at present known as a learning science company that delivers personalized learning experiences so as to help students, parents, educators and professionals improve results. The learning solutions that are being offered by McGraw-Hill Education are available in somewhere around 60 languages.
Marjara said, "In the last couple of years we're really seeing the digital transformation of He included "Through software, the company now gives learning tools that provides one to one, personalized, tailored, education experiences, or learning experiences.”
Reason for Excellence
He was also of the view that McGraw-Hill has always excelled due to the content and learning expertise but this year it is technology which is offering advanced scientific learning. The products are bettering learning outcomes for students, educators and administrators via e-learning solutions.
Annual Report of 2014
In the year 2014 McGraw-Hill Education generated 321 million USD (roughly Rs. 2,119 crores) in earnings before interest, tax, depreciation and amortisation on revenue of 1.3 billion USD (roughly Rs 8,581 crores). In the month of September the company made the announcement that it has filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering
The McGraw-Hill group owns McGraw-Hill Financial whose businesses include the ratings agency Standard & Poor, and Platts, the risk managers and analysts.