AUSTIN, Texas – Publishing giant Houghton Mifflin Harcourt is making a $400 million investment to back up the company's increasing emphasis on putting more technology into classrooms.
The investment announced Monday includes $100 million in incubator money for technology supporting student achievement.
Houghton Mifflin Harcourt CEO Barry O'Callaghan says his company can provide capital and product expertise to budding educational entrepreneurs.
The Boston-based company also plans to invest $300 million over the next three years developing its own technology, such as a pilot algebra application for the Apple iPad currently being tested by 400 California students.
O'Callaghan says he doesn't see traditional textbooks disappearing entirely.