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ACQUISITION AND LAND PURCHASE
12 Months Ended
May 31, 2011
Acquisition And Land Purchase [Text Block]

2. ACQUISITION AND LAND PURCHASE


On September 9, 2010, the Company acquired Math Solutions, an education resources and professional development company focusing on K-12 math instruction, for $8.2, net of cash acquired. The Company has integrated this business with its existing educational technology businesses. As a result of this transaction, the Company recognized $0.8 of goodwill and $5.6 of amortizable intangible assets.


Transaction costs of $0.4 were expensed in fiscal 2011 and are included in “Other (expense) income” on the Company’s consolidated statements of operations. The results of operations of this acquisition subsequent to the acquisition date are included in the Educational Publishing segment.


In the second quarter of fiscal 2011, the Company purchased the land on which its corporate headquarters are located for $24.3 and also satisfied capital lease obligations on this property of $1.3.