Combination creates a leader in tech-enabled education services for colleges and universities
HOBOKEN, N.J.--(BUSINESS WIRE)--John Wiley & Sons, Inc. (NYSE:JWA) (NYSE:JWB) announced today that it
has completed its acquisition of Learning House from Weld North Holdings
for $200 million in cash. The combination of Learning House and Wiley
Education Services creates a leading provider of tech-enabled education
services for colleges and universities.
Headquartered in Louisville (KY), Learning House provides online program
management (OPM) services including graduate and undergraduate programs;
short courses, boot camps, and other skills training and credentialing
for students and professionals; pathway services for international
students; professional development services for teachers; and
learning solutions for corporate clients. Revenue for fiscal year 2018
ending December 31 is projected to be approximately $70 million.
“We are thrilled to welcome our new Learning House colleagues
into the Wiley family,” said Brian Napack, President and CEO of Wiley.
“For 210 years, we have been pursuing a mission to improve the human
condition through the advancement of knowledge and learning. The
addition of Learning House extends our position as the service partner
of choice for universities working to help students achieve their goals
in education and throughout their careers.”
Learning House will integrate with Wiley Education Services to create a
leader in the $2.3 billion online program management (OPM) market, with
approximately $200 million in combined annual revenue, more than 60
university partners ranging from national institutions to regional
schools, over 800 online graduate and undergraduate degree programs across
disciplines, and targeted university services such as student
recruitment and enrollment. The additional capabilities, expanded
resources, and staffing provided by Learning House enables Wiley to
partner even more broadly with universities and employers, providing
more students with access to a high-quality education that can prepare
them with the skills they need to find the right job and advance
throughout their careers.
Forward-Looking Statements
This release contains certain forward-looking statements. 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 on 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 and (x) Learning
House’s forecasted fiscal year 2018 revenues and (xi) 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.
About
Wiley
:
Wiley is a global leader in research and education. Our online
scientific, technical, medical, and scholarly journals, and our digital
learning, assessment, certification and student-lifecycle services and
solutions help universities, academic societies, businesses, governments
and individuals to achieve their academic and professional goals. For
more than 200 years, we have delivered consistent performance to our
stakeholders. The company's website can be accessed at www.wiley.com.
About
Wiley
Education Services
:
Wiley Education Services, a division of Wiley, is a leading, global
provider of tailored higher education services
and technology
solutions to colleges and universities. It currently partners with
more than 30 institutions across the US, Europe, and Australia and
supports over 250 degree programs and more than 2,000 courses,
encompassing on-campus, online, and hybrid models. Wiley Education
Services works collaboratively with its partners to provide tailored
services, technology, insights, and content that help to improve
institutional performance and help learners to achieve their goals. For
more information go to edservices.wiley.com.
About
Learning
House
:
Learning House, a Wiley Brand, helps people improve their lives through
education. As an academic program manager, Learning House offers
technology-enabled education solutions designed to meet the needs of a
dynamic global market. Solutions include Online Program Management
(OPM), Enterprise Learning Solutions, The Software Guild, Learning
House, International and Advancement Courses. With a focus on
data-driven decision making, Learning House is on the leading edge of
higher education. Learning House provides expertise in research and
analytics, marketing, enrollment, retention and instructional design.
Through its broad portfolio, Learning House delivers more students, more
graduates, and better outcomes.
Wiley Investors:
Brian Campbell, +1-201-748-6874
brian.campbell@wiley.com
or
Media:
Tom Griffin, +441865476213
tgriffin@wiley.com