Edexcel was formed in 1996 by the merger of two bodies, the BTEC (Business & Technology Education Council) and ULEAC (University of London Examinations and Assessment Council).[1] In 2003, the Edexcel Foundation (the charity that managed the board) formed a partnership with Pearson plc to set up a new company called London Qualifications Ltd, which was 75% owned by Pearson and 25% by the Edexcel Foundation.[1] London Qualifications Limited changed its name to Edexcel Limited in November 2004 and is now known colloquially as Edexcel and formally as Edexcel Pearson - London Examinations.