HOBOKEN, N.J. – January 5, 2021 – John Wiley & Sons, Inc. (NYSE:JWA) (NYSE:JWB) right this moment introduced the acquisition of Hindawi Restricted, an innovator in open entry (OA) publishing and one of many world’s quickest rising scientific analysis publishers, for a complete buy value of $298 million. The acquisition of Hindawi considerably will increase Wiley’s place as a worldwide chief in analysis by including high quality, scale and progress to the corporate’s open entry publishing program.
Open entry is a quickly rising scholarly publishing mannequin that permits peer-reviewed articles to be learn and shared instantly, making necessary analysis broadly accessible. As a pacesetter in open entry publishing, Hindawi has performed a crucial function in advancing gold open entry, an OA mannequin during which validated articles are made instantly accessible for studying and re-use following the fee of a publication price.
Hindawi, privately held and headquartered in London, has a sturdy portfolio of over 200 peer-reviewed scientific, technical, and medical journals, a extremely environment friendly publishing platform, and a low-cost infrastructure. Wiley’s acquisition of Hindawi unlocks important and worthwhile new progress by tapping deeper into the fast-growing OA market and by delivering revolutionary publishing companies to researchers, societies, and establishments around the globe. For the fiscal yr ending December 31, 2020, Hindawi is projected to generate roughly $40 million in income with yr over yr progress of 50%.
“The acquisition of Hindawi allows Wiley to maneuver farther and quicker towards our purpose of assembly the world’s pressing and escalating want for brand spanking new information,” mentioned Brian Napack, President and CEO, Wiley. “Hindawi is a real pioneer within the trade, empowering researchers with a totally digital, user-friendly publishing course of that will get their life-changing, peer-reviewed discoveries out into the world quicker and extra effectively.”
The addition of Hindawi’s journals doubles Wiley’s gold (pure) OA journal portfolio and can enhance writer retention by giving researchers extra choices to publish inside Wiley titles. Its cutting-edge expertise mixed with Wiley’s revolutionary platforms and companies will improve the publishing expertise for authors, editors, and reviewers, whereas increasing the platform and repair choices that Wiley supplies to its community of society and publishing companions. Hindawi strengthens Wiley’s rising place within the world analysis trade, notably in China – the world’s fast-growing analysis market.
“Just like Wiley, we’re pushed by a mission to advance openness in analysis, working with researchers, publishers, establishments, and organizations to construct a vibrant ecosystem that helps this world group thrive,” mentioned Paul Peters, Hindawi’s CEO, who will proceed to guide Hindawi as a part of Wiley’s Analysis enterprise. “With Wiley’s dedication to Hindawi and open entry, we’re excited to speed up scientific discovery, collaboration, and innovation to maximise the impression of analysis for future generations.”
“We’ve got labored laborious with our companions to construct one of many world’s largest totally open entry publishing platforms,” mentioned Ahmed Hindawi, Hindawi’s co-founder. “The mixed strengths of Hindawi and Wiley will proceed to assist the evolving wants of the analysis group in new and revolutionary methods.”
Wiley’s acquisition of Hindawi, together with its current acquisitions of mThree, zyBooks, Madgex, and Knewton Alta, reveal the corporate’s persevering with technique to ship revolutionary, tech-enabled services that unlock human potential by enabling the success of the world’s researchers, learners, and professionals.
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Wiley drives the world ahead with analysis and schooling. Via publishing, platforms and tech-enabled companies, we assist researchers, professionals, college students, universities, and firms to attain their targets in an ever-changing world. And for greater than 200 years, we’ve delivered constant efficiency to all our stakeholders. The Firm’s web site may be accessed at http://www.
Hindawi was one of many first publishers to transform its complete journal portfolio to pure Open Entry and has spent the final ten years creating its expertise on this space. Based in Cairo, Egypt in 1997 by Ahmed Hindawi and Nagwa Abdelmottaleb, Hindawi now publishes greater than 200 peer-reviewed open entry (Gold) journals underneath its personal model plus 9 titles underneath the Wiley Hindawi co-brand. Hindawi’s Publishing Partnership program supplies programs and experience to publishers to assist them handle their very own Open Entry journals. Hindawi was suggested by Houlihan Lokey in relation to this transaction, with DLA Piper appearing as authorized counsel. For extra data, please go to http://www.
This launch accommodates sure forward-looking statements in regards to the Firm’s operations, efficiency, and monetary situation. Reliance shouldn’t be positioned on forward-looking statements, as precise outcomes could differ materially from these in any forward-looking statements. Any such forward-looking statements are based mostly upon a variety of assumptions and estimates which might be inherently topic to uncertainties and contingencies, a lot of that are past the management of the Firm and are topic to alter based mostly on many necessary elements. Such elements embrace, however should not restricted to: (i) the extent of funding in new applied sciences and merchandise; (ii) subscriber renewal charges for the Firm’s journals; (iii) the monetary stability and liquidity of journal subscription brokers; (iv) the consolidation of e book wholesalers and retail accounts; (v) the market place and monetary stability of key on-line retailers; (vi) the seasonal nature of the Firm’s instructional enterprise and the impression of the used e book market; (vii) worldwide financial and political circumstances; (viii) the Firm’s potential to guard its copyrights and different mental property worldwide (ix) the power of the Firm to efficiently combine acquired operations and notice anticipated alternatives; (x) the Firm’s potential to appreciate working financial savings over time and in fiscal yr 2021 in reference to our multi-year Enterprise Optimization Program; (xi) the impression of COVID-19 on our operations, efficiency, and monetary situation; and (xii) different elements detailed every so often within the Firm’s filings with the Securities and Trade Fee. The Firm undertakes no obligation to replace or revise any such forward-looking statements to mirror subsequent occasions or circumstances.
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