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ISCTI: Kluwer Academic Publishers Sold to Venture Capitalists

  • To: Multiple recipients of list <epc-l@iucr.org>
  • Subject: ISCTI: Kluwer Academic Publishers Sold to Venture Capitalists
  • From: Pete Strickland <ps@iucr.org>
  • Date: Thu, 7 Nov 2002 14:07:02 GMT
Kluwer Academic Publishers Sold to Venture Capitalists
By Richard Poynder

Dutch publisher Wolters Kluwer has announced the sale of Kluwer Academic
Publishers (KAP) to London-based private equity funds Candover and Cinven
for approximately $591 million. Cinven and Candover will each contribute
$106 million, and the management team, led by KAP CEO Peter Hendriks, will
invest alongside them. As such, says Eric-Joost Ernst, an investment
manager at Candover, the purchase could equally be described as an
institutional buyout or a management buyout. Announced on October 18, the
transaction is expected to be completed by early 2003.
--> http://www.infotoday.com/newsbreaks/nb021104-1.htm

There is a lot of speculation in the full story about the reasons for the sale 
and whether the buyers will try to buy Bertlesmann-Springer, which is also 
for sale, and Blackwells which is going through a family dispute which may 
lead to a sale.

It may a Chinese curse, but we do live in intreresting times... who would have
thought that our world of academic publishing would become so attractive to
venture capitalists.


Best wishes

Peter Strickland
Managing Editor
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