Cengage buys book division for $750M

In its first major deal since being spun out of Thomson Corp. in July, Cengage Learning is buying Houghton Mifflin Co.”™s college textbook division for $750 million.

Formerly called Thomson Learning, Cengage is based in Stamford and sells various instruction and reference materials.

Cengage is financing the deal with $625 million in debt financing from Royal Bank of Scotland, with Cengage stakeholders Apax Partners and OMERS Capital Partners making up the difference via an additional equity investment.