The longstanding efforts by private equity owners EQT and the Singaporean sovereign-wealth fund to sell Springer Science have taken yet another twist. They will walk away from BC Partners’ recent offer to buy the entire company for approximately €3.1 billion, and instead will go ahead with the long-contemplated IPO. The WSJ says that share offering “could value Springer Science at more than €3 billion, people familiar with the matter have said previously” — as well it should if they turned down that sum as a full buyout. They have been trying, since last fall, to get a valuation of closer to €3.5 to 4 billion for the company.
Separately, Pottermore ceo Charlie Redmayne first revealed the company’s plans to work with other IP brands on digital strategy and exploitation at last October’s Publishers Launch Frankfurt — and now he confirms to the Bookseller the launch of a separate business for that initiative. CreateMore “has been working with established brands such as the Beano and Guinness World Records over their digital strategies.”
Redmayne is scheduled to return to this year’s Publishers Launch Frankfurt to explain more about their continuing expansion into new areas. The show is moving to the Tuesday right before the FBF exhibit floor opens (October 8) — the natural, and more convenient day for people to attend the show that has drawn rave reviews the last two years for showcasing c-level executives from around the world. Early programming information is being posted here, and our early pricing is available through June, either here or here at Frankfurt’s site.