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Industry: Email Alert RSS FeedAcquisition of Blackwell completed by Wiley
M2 Best Books, Feb 6, 2007
M2 BEST BOOKS-(C)2000-2007 M2 COMMUNICATIONS LTD
Publisher John Wiley & Sons Inc (NYSE: JWa; JWb) has announced that it has completed its acquisition of the outstanding shares of Blackwell Publishing (Holdings) Ltd, an academic and professional publisher.
The company said that the purchase price of GBP572m was financed with a combination of debt and cash.
Blackwell's publishing programme is reportedly being merged with Wiley's global scientific, technical and medical business and the merged business is the largest of the three businesses of John Wiley & Sons Inc. Its other businesses are Professional/Trade and Higher Education.
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Wiley's senior vice president of STM Publishing, Eric A. Swanson, is to lead the merged business and Blackwell CEO Rene Olivieri will serve as its chief operating officer. Olivieri is also co-leader of the transition team along with Wiley Europe's chief operating officer, Stephen Smith.
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