Dive Brief:
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In its final move to rid itself of publishing and domestic businesses, McGraw Hill Financial Inc. will sell its construction news and data unit to private equity firm Symphony Technology Group.
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The $320 million cash sale— to close by the end of the year— has concentrated on financial products and data since selling off its education unit last year. It previously sold the publications Aviation Week, Chemical Engineering, Modern Plastics and Businessweek.
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The company reportedly will refocus on growing globally. It still owns Standard & Poor’s Rating Services and J.D. Power, which have overseas operations and the potential for international growth.
Dive Insight:
McGraw Hill’s construction unit has 650 employees and takes in $170 million a year, according to Bloomberg, which bought Businessweek in 2009.