Bertelsmann has agreed to acquire North Carolina-based educational software firm Relias Learning, paying in the “mid-hundreds of millions” of dollars to buyout firm Vista Equity Partners. Two sources tell Reuters that translates into roughly $540 million. Relias produces employee training software that is used by over 4,000 organizations, primarily in health care and human services (but also including such sectors as law enforcement and correctional facilities). Bertelsmann ceo Thomas Rabe notes in a statement, “Relias is the leading e-learning provider in the healthcare and compliance sectors, and the company profits from the three global megatrends of education, health and digitization.” Reuters quotes Rabe […]
Education
Scholastic Takes $21.4 Charge, Mostly on Storia, Which Will Switch to School Licensing Model
Scholastic reported fourth quarter and full fiscal year earnings on Thursday morning, with sales rising 8 percent to $549 million and operating income increasing more, at $48.6 million. The stock rose in early morning trading on the improved results and positive guidance for next year. But the company disclosed a variety of charges, including a mostly non-cash, pre-tax charge of $21.4 million primarily due to a shift in their Storia ereading platform. Scholastic intends to move the service to a “streaming model,” and as a result they will not support various operating-specific Storia apps. That change and a “settlement charge” […]
Sales Rise At Bloomsbury, As Profit Softens
Bloomsbury reported results for their fiscal year ending February 28, with sales rising 11 percent of £109.5 million, but profit after tax of £9.5 million was down slightly (from £9.8 million the year before). All three major publishing divisions — adult trade; children’s and educational; and academic & professional — showed gains during the year, which “mitigated a fall in higher-margin rights and services revenues.” Those sales fell 26 percent to £8.5 million, with “fewer [copyright licensing] deals completed and at lower amounts.” Digital sales overall rose by 21 percent to £12.2 million, and now comprise 12.1 percent of revenues […]
Taste Barnes & Noble College’s New Yuzu
A yuzu is a hybrid citrus fruit with curiously high ratio of seeds to juice — which makes it the perfect name for Barnes & Noble College’s new textbook app: “Yuzu is a next-generation digital education platform that enhances the everyday learning experience and makes college the rewarding journey it’s meant to be.” It has launched as an iOS app and web reader (but for now it only works in iOS 7, and the latest versions of Safari). A replacement for Nook Study, this is the “higher education digital product” that the company touted on their last earnings call, and […]
Corporate: F+W Expands Burda Deal; OverDrive Acquisition; Osprey Games
F+W Media has expanded their licensing deal from 2013 to develop Burda Style USA, into a broader 50/50 joint venture with Burda Media “to run the brand Burda Style in the USA and Canada, as well as the UK digital activities of Burda Style.” F+W ceo David Nussbaum says in the release, “This joint venture brings together two of the largest entities serving the craft market and represents the next stage of our trusted partnership with the Burda team. Through organic growth and strategic acquisitions, F+W Media has expanded its reach in the US craft market serving tens of millions of consumers […]
People, Etc.
At Gotham/Avery, Lindsay Gordon has been promoted to associate director of publicity. Beth Ineson has been appointed to the new role of executive director, book marketing, sales, and operations at Boston Common Press, starting March 3. Most recently she was head of field sales at Houghton Mifflin Harcourt. Ineson will oversee expansion of the marketing and distribution of efforts of the Cook’s Illustrated, America’s Test Kitchen, and Cook’s Country lines of cookbooks. Annie Kelley has returned to Schwartz & Wade Books as senior editor. Previously she was youth editor at Booklist. Simon & Schuster UK will combine its adult and […]