Thomson Corp. (NYSE, TSX: TOC), which is bidding to buy Reuters Group Plc, said Friday that it will sell segments of Thomson Learning and Nelson Canada to group of funds for $7.75 billion in cash.

The funds are advised by Apax Partners and OMERS Capital Partners. The deal includes the higher education, careers and library reference assets of Thomson Learning.

The transaction is expected to close by the end of the third quarter of this year.

The firm says the sale is part of the company’s strategy to sell assets of its Learning business that align with its growth strategy and business model.

The planned acquisition of Reuters would make the combined company the largest provider of financial data to institutional investors.