John Wiley Pays $51M for Profiles International
The deal comes after the publisher has divested travel, general interest and non-fiction assets
After shedding several assets over the past couple of years, John Wiley & Sons Inc. (NYSE: JWa, JWb) has acquired Profiles International for $51 million.
Profiles, headquartered in Waco, Texas, provides employment assessment and talent management services. The company's services are used by employers for candidate selection as well as pre-hire and post-hire assessments. The company provides services in 32 languages for clients that include Academy Sports, Cisco Systems (Nasdaq: CSCO), Four Seasons Hotels & Resorts, Mercedes Benz and Wells Fargo (NYSE: WFC).
The Hoboken, N.J.-based buyer provides knowledge-enabled services to the research, professional practice and education sectors. John Wiley will be able to add the company's pre-hire services to the company's post-hire assessment services.
In April 2013, John Wiley sold non-fiction titles to HarperCollins Canada. That same month, the company sold general interest publishing assets, including about 1,500 titles, to Turner Publishing.
The company also sold assets in 2012, including Webster's New World Dictionary and CliffsNotesto Houghton Mifflin Harcourt's Trade & Reference division, and its travel assets, which included the Frommer's brand, to Google Inc. (Nasdaq: GOOG).
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