Wolfpack Publishing has acquired author James Reasoner’s Rough Edges Press. The line will become an imprint of Wolfpack, publishing new mysteries, thrillers, and crime fiction.
M&A
HBG Completes Acquisition of Workman
Hachette Book Group announced it has completed its $240 million acquisition of Workman. As previously announced, Workman ceo Dan Reynolds will head the group, reporting to HBG ceo Michael Pietsch, and will join the Executive Management Board. Pietsch said, “This is a significant and exciting milestone for Hachette Book Group, as we welcome an extraordinary publisher to HBG. We have deep admiration for Workman’s publishing, its people, its authors and illustrators, its books, its commitment to backlist and its culture. The opportunity for HBG to join forces with Workman is one I believe will be enormously beneficial to both companies, […]
Vivendi Boosts Ownership of Lagardere, and Will Launch Tender Offer for Full Buyout
The battle for control of Lagardere enters what may be its final stage, as well-funded Vivendi is taking steps towards a full takeover. Vivendi announced an agreement to buy activist investor Amber Capital’s significant minority stake in Lagardere, paying €24.10 a share for Amber’s block of over 25 million shares, comprising just under 18 percent of shares outstanding. That price provided a good premium above the market close of €19.49 on Wednesday. Vivendi and Amber had a reciprocal right to buy each other out if either party wanted to sell. The FT reported, “Last week, Amber told Vivendi it wanted […]
Acquisitions: Hachette UK Buys Arcadia
Hachette UK has acquired independent publisher Arcadia Books, which will operate within the MacLehose Press imprint at Quercus. Associate publisher Katharina Bielenberg will take over as publisher at Arcadia. Since the death of founder Gary Pulsifer in 2016, the company has been run by Piers Russell-Cobb at MediaFund. Quercus noted in the announcement: “Arcadia has since its inception been passionately committed to publishing a wide and diverse range of voices, with an especially strong list of international literature in translation.”
Follett School Solutions Acquired By Francisco Partners
Follett Corporation has sold Follett School Solutions, the company’s K-12 software and content division, to tech-focused investment firm Francisco Partners, which owns the K-12 education-focused businesses Renaissance Learning, Discovery Education, Freckle, myON and Mystery Science. Earlier in the year, Francisco bought VitalSource from Ingram Content Group. The terms of the deal were not announced. Follett Corporation will continue to own and operate college bookstores through the Follett Higher Education Group, as well as what remains of Baker & Taylor. Britten Follett, a fifth-generation family member, will become ceo of FSS Content, while Paul Ilse, former ceo of Discovery Education (another […]
McGraw Hill to Acquire Achieve3000
McGraw Hill was the winning bidder in the sale of New Jersey-based edtech company Achieve3000. The deal is expected to close within 60 days, and it underscores support for McGraw from their new private equity owners at Platinum Equity. Terms were not disclosed, but earlier in August, sources told PE Hub that Achieve3000 had sales of about $100 million and EBITDA of $50 million, looking for a robust valuation of over $700 million. In the announcement, managing director at Platinum Equity Luke Myers, said: “We are making good on our pledge to help McGraw Hill accelerate its digital transformation, which […]