Kaplan Test Prep has acquired key assets of longtime rival Barron’s Educational Series, including the test prep, study aid, and foreign language assets, as well as the Barron’s brand name. The acquisition comprises about 650 of Barron’s more than 2,000 titles, also including their reference, business, and law titles. As Newsday notes, “The purchase combines two of the oldest and best-known brands in educational services and test-prep books in a market that is becoming increasingly competitive.” Terms of the transaction were not disclosed. Following the merger, Kaplan’s new assets will still carry the Barron name, operating as a distinct brand. […]
M&A
Quarto Has Better Sales, Still with Big Loss; Bertelsmann to Buy OnCourse Learning
Quarto reported half-year results, with sales showing some improvement, as revenues rose $6 million to $56.2 million. Some of that gain reflects a shift in the “seasonal split of co-edition revenues, with a higher percentage than normal of expected full-year revenues achieved in the first half.” Their operating loss of ($7 million) was slightly improved from last year’s ($7.6 million), though the after tax loss of ($6.7 million) was higher than last year’s ($5.2 million), and is a poor result by any objective measure. The company’s lightly-traded stock is headed towards a new all-time low following the news. Though not […]
Houghton to Sell Riverside Assessments
Houghton Mifflin Harcourt will reap a welcome cash infusion with the sale of their Riverside Assessments division to private equity firm Alpine Investors for $140 million. HMH plans to invest the $135 million cash proceeds “in its Extensions businesses, supporting its strategy to create integrated solutions and improve student outcomes.” The deal is expected to close “early in the fourth quarter.” Alpine is adding Riverside’s clinical and standardized testing business to a portfolio that already includes Woodcock-Johnson family, the Cognitive Abilities Test (CogAT), Iowa Assessments and others. HMH says it is retaining “assessment solutions critical to effective differentiation of classroom instruction, including Reading Inventory, Math Inventory, Phonics Inventory and Reading […]
Acquisitions: HBG Buys Worthy Publishing, As Insight Editions Buys Weldon Owen
Hachette Book Group has agreed to acquire the assets of Nashville, TN-based Christian publisher Worthy Publishing. When the deal is finalized, Worthy will become part of Hachette’s Nashville publishing division. Worthy publishes across categories including inspiration, fiction, Bible study, current events, devotion, leadership, biography, and personal growth. Their fall list includes Mike Huckabee’s new book, Rare, Medium or Done Well and a new fiction series from Jerry Jenkins. Hachette Nashville publisher Rolf Zettersten says in the announcement: “I have the utmost respect for the experience, instincts, and insights of Byron Williamson and his team, and I know that adding Hachette […]
Lyntons Back New Publishing Acquisition Company, with Steinberger As CEO
Lezen Acquisition, an investment group led by Michael Lynton and his sister Lily Lynton, has bought Arcadia Publishing in the first of what they indicate will be a series of book publishing acquisitions. Former Perseus Books Group ceo David Steinberger is leading the new company as ceo, and Michael Lynton is nonexecutive chairman. “We intend to make other acquisitions, and that will give us scale,” Steinberger tells the WSJ. “If you can find the right publishers and bring them together, you can create a lot of value, because certain costs don’t rise proportionately with revenue.” Michael Lynton is currently chairman of […]
Harper Acquires AMACOM
Harper Collins announced it has acquired the trade book assets of AMACOM from the American Management Association International. That means they bought the list, without the accompanying infrastructure. Their 600-title catalog will be run as a sub-imprint of the recently launched Harper Collins Leadership line, based in Nashville. HCL publisher Jeff James will oversee AMACOM business development, marketing and editorial. Spokesperson Casey Harrell confirmed to us that “personnel who work on the AMACOM imprint are not employees of HarperCollins. We are identifying jobs to support HarperCollins Leadership and are working through a transitional plan.” Harper ceo Brian Murray said in the […]