A Global Leader in Research and Education
Accelerates its Strategy to Power the World’s Knowledge
Ecosystem by Acquiring a Fast-Growing Innovator in Open
Access
John Wiley & Sons, Inc. (NYSE:JWA) (NYSE:JWB) today
announced the acquisition of Hindawi Limited, an innovator in open
access (OA) publishing and one of the world's fastest growing
scientific research publishers, for a total purchase price of $298
million. The acquisition of Hindawi significantly increases Wiley’s
position as a global leader in research by adding quality, scale
and growth to the company’s open access publishing program.
Open access is a rapidly growing scholarly publishing model that
allows peer-reviewed articles to be read and shared immediately,
making important research broadly available. As a leader in open
access publishing, Hindawi has played a critical role in advancing
gold open access, an OA model in which validated articles are made
immediately available for reading and re-use following the payment
of a publication fee.
Hindawi, privately held and headquartered in London, has a
robust portfolio of over 200 peer-reviewed scientific, technical,
and medical journals, a highly efficient publishing platform, and a
low-cost infrastructure. Wiley’s acquisition of Hindawi unlocks
significant and profitable new growth by tapping deeper into the
fast-growing OA market and by delivering innovative publishing
services to researchers, societies, and institutions around the
world. For the fiscal year ending December 31, 2020, Hindawi is
projected to generate approximately $40 million in revenue with
year over year growth of 50%.
“The acquisition of Hindawi enables Wiley to move farther and
faster toward our goal of meeting the world’s urgent and escalating
need for new knowledge,” said Brian Napack, President and CEO,
Wiley. “Hindawi is a true pioneer in the industry, empowering
researchers with a fully digital, user-friendly publishing process
that gets their life-changing, peer-reviewed discoveries out into
the world faster and more efficiently.”
The addition of Hindawi’s journals doubles Wiley’s gold (pure)
OA journal portfolio and will increase author retention by giving
researchers more options to publish within Wiley titles. Its
cutting-edge technology combined with Wiley’s innovative platforms
and services will enhance the publishing experience for authors,
editors, and reviewers, while expanding the platform and service
offerings that Wiley provides to its network of society and
publishing partners. Hindawi strengthens Wiley’s growing position
in the global research industry, particularly in China – the
world’s fast-growing research market.
“Similar to Wiley, we are driven by a mission to advance
openness in research, working with researchers, publishers,
institutions, and organizations to build a vibrant ecosystem that
helps this global community thrive,” said Paul Peters, Hindawi’s
CEO, who will continue to lead Hindawi as part of Wiley’s Research
business. “With Wiley’s commitment to Hindawi and open access, we
are excited to accelerate scientific discovery, collaboration, and
innovation to maximize the impact of research for future
generations.”
“We have worked hard with our partners to build one of the
world's largest fully open access publishing platforms,” said Ahmed
Hindawi, Hindawi’s co-founder. “The combined strengths of Hindawi
and Wiley will continue to support the evolving needs of the
research community in new and innovative ways.”
Wiley’s acquisition of Hindawi, along with its recent
acquisitions of mThree, zyBooks, Madgex, and Knewton Alta,
demonstrate the company’s continuing strategy to deliver
innovative, tech-enabled products and services that unlock human
potential by enabling the success of the world’s researchers,
learners, and professionals.
For more information, please visit www.wiley.com.
ABOUT WILEY
Wiley drives the world forward with research and education.
Through publishing, platforms and tech-enabled services, we help
researchers, professionals, students, universities, and
corporations to achieve their goals in an ever-changing world. And
for more than 200 years, we have delivered consistent performance
to all our stakeholders. The Company's website can be accessed at
www.wiley.com.
ABOUT HINDAWI
Hindawi was one of the first publishers to convert its entire
journal portfolio to pure Open Access and has spent the last ten
years developing its experience in this area. Founded in Cairo,
Egypt in 1997 by Ahmed Hindawi and Nagwa Abdelmottaleb, Hindawi now
publishes more than 200 peer-reviewed open access (Gold) journals
under its own brand plus nine titles under the Wiley Hindawi
co-brand. Hindawi’s Publishing Partnership program provides systems
and expertise to publishers to help them manage their own Open
Access journals. Hindawi was advised by Houlihan Lokey in relation
to this transaction, with DLA Piper acting as legal counsel. For
more information, please visit www.hindawi.com.
FORWARD-LOOKING STATEMENTS
This release contains certain forward-looking statements
concerning the Company's operations, performance, and financial
condition. Reliance should not be placed on forward-looking
statements, as actual results may differ materially from those in
any forward-looking statements. Any such forward-looking statements
are based upon a number of assumptions and estimates that are
inherently subject to uncertainties and contingencies, many of
which are beyond the control of the Company and are subject to
change based on many important factors. Such factors include, but
are not limited to: (i) the level of investment in new technologies
and products; (ii) subscriber renewal rates for the Company's
journals; (iii) the financial stability and liquidity of journal
subscription agents; (iv) the consolidation of book wholesalers and
retail accounts; (v) the market position and financial stability of
key online retailers; (vi) the seasonal nature of the Company's
educational business and the impact of the used book market; (vii)
worldwide economic and political conditions; (viii) the Company's
ability to protect its copyrights and other intellectual property
worldwide (ix) the ability of the Company to successfully integrate
acquired operations and realize expected opportunities; (x) the
Company’s ability to realize operating savings over time and in
fiscal year 2021 in connection with our multi-year Business
Optimization Program; (xi) the impact of COVID-19 on our
operations, performance, and financial condition; and (xii) other
factors detailed from time to time in the Company's filings with
the Securities and Exchange Commission. The Company undertakes no
obligation to update or revise any such forward-looking statements
to reflect subsequent events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20210105005201/en/
Investor: Brian Campbell 201.748.6874 brian.campbell@wiley.com
Media: Katie Roberts 602.373.7233 karoberts@wiley.com
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