Wiley announces Hindawi acquisition.
John Wiley & Sons has bought Hindawi for $298m. Wiley says the purchase adds 'quality, scale and growth to the company's open access publishing programme'.
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. 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 reuse following the payment of a publication fee.
Hindawi, privately held and headquartered in London, has a portfolio of over 200 peer-reviewed scientific, technical, and medical journals, its own publishing platform, and a low-cost infrastructure. Wiley says its 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 was projected to generate approximately $40m in revenue with year-on-year growth of 50 per cent.
Brian Napack, Wiley CEO and president, said: 'The acquisition of Hindawi enables Wiley to move faster towards our goal of meeting the world's urgent, escalating need for knowledge. Hindawi is a true pioneer in the industry, empowering researchers with a fully digital, user-friendly publishing process that gets 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 in Wiley titles, the company said, adding that Hindawi's technology combined with Wiley's innovative platforms and services will enhance the publishing experience for authors, editors and reviewers. The deal will also strengthen Wiley's growing position in the global research industry, particularly in China--the fast-growing research market.
Paul Peters, Hindawi's CEO, will continue to lead Hindawi as part of Wiley's Research business. He said: 'We are driven by a mission to advance openness in research, working with researchers, publishers and institutions to build a vibrant ecosystem that helps this community thrive. With Wiley's commitment to Hindawi and OA, we are excited to accelerate scientific discovery, collaboration, and innovation to maximise the impact of research.'
Ahmed Hindawi, Hindawi's co-founder, said: 'We have worked hard with our partners to build one of the world's largest fully-OA publishing platforms. The combined strengths of Hindawi and Wiley will continue to support the evolving needs of the research community in new and innovative ways.'