Houghton Mifflin Acquires Websters and CliffsNotes
The deal adds to the education M&A trend
In another education M&A deal, Houghton Mifflin Harcourt’s Trade & Reference division will purchase John Wiley & Son’s Inc.’s (NYSE: JWA, JWB) culinary portfolio, which includes Webster’s New World Dictionary and CliffsNotes. Terms of the deal were not disclosed.
John Wiley and Sons’ cookbook collection includes the Betty Crocker series, Better Homes and Gardens and How to Cook Everything. The deal was announced Nov. 8.
John Wiley and Sons on Nov. 6 agreed to buy Efficient Learning Systems, an electronic learning system provider, for $24 million. On Oct. 2 John Wiley and sons also agreed to buy Deltak.edu LLC, a Chicago-based online education company, for $220 million.
The transaction is part of an education M&A trend evidenced by deals such as the Riverside Co.’s purchase of Learning Seat, Echo 360 Inc.’s purchase of Lecture Tools Inc. and Pivotal Group’s purchase of Pan Am Education.
For more information on related topics, visit the following: