While the Princeton Review has never had more than a retail connection to the town or the university, despite its name, one part of the test tutoring company, recently sold to an India-based company, now will have a Princeton corporate presence.
Three months after announcing it would sell the assets of its K-12 services division, the Princeton Review finalized the $9.5 million sale to Atlanta-based CORE Education and Consulting Services and its India-based parent company CORE Projects & Technologies.
The Princeton Review announced in November that it planned to divest the K-12 Services business because it is not directly aligned with its college and graduate school admissions test preparations and supplemental education opportunities.
CORE is an educational software company that develops and markets products in school management, assessment, accountability, and IT infrastructure systems. The company’s U.S. operations are based in Atlanta, San Francisco, and on Independence Way, where an office has just opened.
Under the terms of the agreement, CORE, which has been acquiring companies around the world, will assume the liabilities of the business arising after the closing of the transaction.
The Princeton Review was founded in New York City in 1981 by John Katzman, who was then a recent Princeton University graduate.
It is now headquartered in Framingham, Massachusetts, and offers private tutoring and classroom and online test preparation to help students improve their scores in college and graduate school admissions tests.
Princeton Review has an office at 252 Nassau Street where it offers one-on-one SAT and GRE tutoring and classes. A spokesperson says that there are no changes there.
CORE Projects & Technologies is $113 million company listed on the Bombay and National Stock Exchanges in India.
CORE Education & Consulting, 1 Independence Way, Princeton 08540; 609-919-0970; fax, 770-234-5327. Prakash Gupta, CEO. www.coreecs.com.
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