J. WILEY & SONS AGREES TO ACQUIRE HUNGRY MINDS & FABOZZI PUBLISHING.In two separate deals, John Wiley John Wiley may refer to:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ) has acquired Frank J. Fabozzi Frank J. Fabozzi is the Frederick Frank Adjunct Professor of Finance at Yale School of Management. He has taught at Yale University since 1994. Fabozzi, an investment management expert, is a Wall Street authority and editor of the Journal of Portfolio Management. Publishing (New Hope, PA), a publisher of finance titles for the professional and academic market, and has agreed to acquire Hungry Minds, Inc. (HMI (Human Machine Interface) The user interface in a manufacturing or process control system. It provides a graphics-based visualization of an industrial control and monitoring system. ; New York). No terms for the purchase of Fabozzi Publishing were given. The acquired company was established in 1993 and currently publishes about 10 titles per year on finance for professional and academic markets and has a back- list of 80 titles and projected annual 2001 revenues of about $1 million. Wiley Wiley may refer to:
Wiley has signed a definitive agreement to acquire Hungry Minds, Inc. for a total consideration of $182.5 million, including $90 million for HMI stock and an estimated $92.5 million of HMI's outstanding debt. Wiley said the deal will be accomplished through a cash tender offer of $6.09 per share for all outstanding stock, followed by a cash merger. The offer is expected to be completed by the end of September. International Data Group (Boston, MA), which owns about 76% of HMI stock, has agreed to support the deal and to tender its shares to Wiley. HMI publishes the "For Dummies" series, the technological "Bible Bible [Gr.,=the books], term used since the 4th cent. to denote the Christian Scriptures and later, by extension, those of various religious traditions. This article discusses the nature of religious scripture generally and the Christian Scriptures specifically, as " and "Visual" series, "Frommer's" travel guides, "CliffNotes," "Webster's New World Dictionary Webster's New World Dictionary of the American Language is an American dictionary first published in 1951 and presently published by John Wiley & Sons. The first edition was published by the World Publishing Company of Cleveland, Ohio in two volumes or one large ," and a variety of related brands and Web sites. HMI was founded in 1990 and currently has over 2500 active titles in 39 languages, including 600 frontlist front·list n. A publisher's list of new or current titles. titles per year. Over the last three years, HMI has made a number of acquisitions, including Cliff Notes (Dec., 1998), MacMillan General Reference (August, 1999) and hungryminds.com (August, 2000). HMI revenues for the first nine months of fiscal 2001 declined 23.2%, going from $177.5 million last year to $136.4 million this year. The company reported a loss of $10.4 million in the period this year vs. a net gain of $10.5 million in 2000. Revenues for the third quarter declined 25%, going from $55.2 million last year to $41.4 million in 2001. Wiley said the purchase of HMI will "significantly" boost its market presence in the professional/trade business, which generated nearly one-third of the company's $614 million fiscal 2001 revenues. Excluding HMI, Wiley's professional/trade group publishes about 750 new and revised volumes annually for the computer, business, accounting, psychology and architecture markets, among others. |
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