Granada Learning, the educational publishing business owned by ITV has been sold to private equity firm Veronis Suhler Stevenson. The deal will consist of an up-front payment of £35m, with a further £18m subject to Granada’s performance over the next two years. ITV has made over £300m of divestments since 2004, including O21 television. In a company statement, Veronis Suhler Stecenson partner Marco Sodi commented "Granada Learning products and brands are amongst the most recognised in UK education. Its nferNelson tests are leaders in assessment while the Letts Revision Guides, the Blackcat and Semerc software products are well known to teachers and pupils alike. We look forward to working with David Smith and the Granada Learning team to pursue the opportunities offered by the significant projected investment in the UK education sector".