Houghton Mifflin purchase complete

HM Rivergroup PLC, a newly formed Irish public limited company, said today it has completed the acquisitions of Riverdeep Holdings Ltd. and Houghton Mifflin Holding Co., a venerable Boston publishing house known for the American Heritage Dictionary, the Curious George children's series, and countless textbooks.

With the transaction completed, HM Rivergroup said it will change its name to Houghton Mifflin Riverdeep Group PLC.

HM Rivergroup was created to merge Riverdeep Holdings, an Irish educational software company, and Houghton Mifflin in a deal valued at roughly $3.4 billion from Boston buyout firms Thomas H. Lee Partners LP and Bain Capital Partners LLC and a minority partner, Blackstone Group of New York and London.

"Through the combination of Houghton Mifflin's superior basal content and sales force and Riverdeep's leading interactive courseware, we will be able to offer customers the most comprehensive, flexible, and innovative educational solutions available from one company," said Tony Lucki, chairman and chief executive of Houghton Mifflin and vice chairman of HM Rivergroup in a statement.
(By Chris Reidy, Globe staff)