Pearson has increased its position in China by acquiring Wall Street English.

International education and information company, Pearson, has acquired one of China’s leading English language providers, Wall Street English, for US$145 million (around £97m).

The acquisition will make Pearson the second-largest private language training company in China and will enhance its annual sales to more than $100m.

Wall Street English provides English language training through computer-based learning and face-to-café tutorials to 35,000 adults in seven cities across China. Pearson began operating in China last year and owns 27 training centres within the country, all operating under the Longman Schools brand.

The company expects the industry to remain a good growth market despite the current bleak economy. John Fallon, Chief Executive of Pearson’s International Education business, said: “There will soon be two billion people speaking English around the world, and China is absolutely central to our plans to build on Pearson’s position as the world’s leading provider of English language teaching services.

“Wall Street English is a successful company with high-quality educational programmes, strong management, a premium brand, good cash flow and margins, and excellent growth prospects. It will be able to draw on the full range of Pearson’s assets and resources to do even more to help China’s young professionals acquire the skills they need to progress in their lives and careers.”

Pearson plans to combine Longman Schools and Wall Street English into one business following the acquisition.

Pearson has 34,000 employees around the world and is a media company in education, business information and consumer publishing – it’s the world’s largest book publisher and owns the Penguin Group and the Financial Times Group.