ProQuest Closes on Previously Announced Sale of Its Information and Learning Segment to Cambridge Information Group
February 12 2007 - 7:31AM
PR Newswire (US)
ANN ARBOR, Mich., Feb. 12 /PRNewswire-FirstCall/ -- ProQuest
Company (NYSE:PQE) today reported that it has closed on its
previously announced transaction with Cambridge Information Group
(CIG), under which CIG has acquired its ProQuest Information and
Learning segment for approximately $222 million. CIG will combine
its Bethesda, Maryland-based CSA subsidiary with Ann Arbor,
Michigan-based ProQuest Information and Learning to create a new,
privately held independent company, ProQuest-CSA LLC. About
ProQuest Company ProQuest Company (NYSE:PQE) is based in Ann Arbor,
Michigan, and is a publisher of K-12 education solutions. We
provide products and services to our customers through our ProQuest
Education business segment, comprised of three product lines --
Voyager Expanded Learning, Learning Page and ExploreLearning.
Voyager is a leading provider of K-12 curriculum products,
in-school core reading programs, reading and math intervention
programs, and professional development programs for school
districts throughout the United States. The family of Learning Page
websites -- Reading A-Z, Raz-Kids, Vocabulary A-Z, Reading-Tutor,
Writing A-Z and Learning Page -- includes more than 1,650
downloadable books (including English, Spanish and French versions)
and thousands of teaching and learning materials. ExploreLearning
offers a catalog of modular, interactive simulations in math and
science called Gizmos, for teachers and students in grades 6-12.
Gizmos are fun for students, easy to use, and flexible enough to
support many different teaching styles and contexts. They are
designed as supplemental curriculum materials that support state
and national curriculum standards. About ProQuest Information and
Learning ProQuest Information and Learning is a world leader in
collecting, organizing, and publishing information for researchers,
faculty and students in libraries and schools. It is widely known
for its strength in business and economics, general reference,
genealogy, humanities, social sciences and STM content. The company
develops premium databases comprising periodicals, newspapers,
dissertations, out-of-print books, and other scholarly information
from more than 9,000 publishers worldwide. Users access the
information through the ProQuest(R) Web-based online information
system, Chadwyck- Healey(R) electronic and microform resources,
UMI(R) microform and print reference products, eLibrary(R) and
SIRS(R) educational resources, and Serials Solutions e-resource
access and management solutions. ProQuest(R) Smart Search was named
"Best Specialist Search Product" by the International Information
Industry Awards in late 2005. For more information about ProQuest
Information and Learning, visit http://www.il.proquest.com/ About
Cambridge Information Group Cambridge Information Group (CIG) is a
privately owned group of information services companies and
educational institutions located around the world. CIG's operating
companies include: ProQuest-CSA, R.R. Bowker, RefWorks and the
Sotheby's Institute of Art. CIG is also the largest shareholder of
Navtech, Inc. (NASDAQ:NAVH.OB) About CSA CSA has been an innovator
and leader in publishing and distributing quality abstracts and
indexes for more than 30 years. A worldwide information company,
CSA's products serve as a guide to researchers, faculty, librarians
and students enabling discovery and aiding the identification,
management and organization of quality information. CSA specializes
in publishing and distributing, in print and electronically, more
than 100 bibliographic and full-text databases and journals in four
primary editorial areas: natural sciences, social sciences, arts
& humanities and technology. CSA is headquartered in Bethesda,
Maryland and has offices throughout the U.S., Canada, Latin
America, Australia, Hong Kong, Japan, Europe and the United
Kingdom. Researchers in more than 4,000 institutions worldwide use
CSA information resources and CSA's print journals are used in more
than 80 countries. For more information about CSA, visit
www.csa.com . Forward-Looking Statements Some of the statements
contained herein constitute forward-looking statements. These
statements relate to future events, the results of our pending
restatement process, or our future financial performance and
involve known and unknown risks, uncertainties and other factors
that may cause our or our markets' actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by such forward-looking
statements. These risks and other factors you should specifically
consider include, but are not limited to the company's ability to
successfully conclude the review of its financial results, the
discovery of additional restatement items, changes in customer
demands or industry standards, adverse economic conditions, loss of
key personnel, the company's ability to favorably manage costs and
expenses associated with its ongoing litigation and SEC
investigation, decreased educational funding/budgets, the ability
to successfully close and integrate other acquisitions, demand for
ProQuest's products and services, success of ongoing product
development, maintaining acceptable margins, ability to control
costs, the impact of federal, state and local regulatory
requirements on ProQuest's business including K-12, the impact of
competition and the uncertainty of economic conditions in general,
the ability to successfully attract and retain customers, sell
additional products to existing customers, and win new business due
to changes in technology, the ability to maintain a broad customer
base to avoid dependence on any one single customer, K-12
enrollment and demographic trends, the level of educational
funding, the level of education technology investments, global
economic conditions, financial market performance, and other risks
listed under "Risk Factors" in our regular filings with the
Securities and Exchange Commission. In some cases, you can identify
forward- looking statements by terminology such as "may," "should,"
"expects," "plans," "anticipates," "believes," "estimates,"
"predicts," "potential," "continue," "projects," "intends,"
"prospects," "priorities," or the negative of such terms or other
comparable terminology. These statements are only predictions.
Actual events or results may differ materially. The company
undertakes no obligation to update any of these statements.
DATASOURCE: ProQuest Company CONTACT: Jennifer Chelune, Investor
Relations Manager, ProQuest Company, +1-734-997-4910, Web site:
http://www.proquestcompany.com/ http://www.il.proquest.com/
http://www.csa.com/ Company News On-Call:
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