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ISCTI: Kluwer Academic Publishers Sold to Venture Capitalists

• To: Multiple recipients of list <epc-l@iucr.org>
• Subject: ISCTI: Kluwer Academic Publishers Sold to Venture Capitalists
• From: Pete Strickland <ps@iucr.org>
• Date: Thu, 7 Nov 2002 14:07:02 GMT

Kluwer Academic Publishers Sold to Venture Capitalists
By Richard Poynder

Dutch publisher Wolters Kluwer has announced the sale of Kluwer Academic
Publishers (KAP) to London-based private equity funds Candover and Cinven
for approximately $591 million. Cinven and Candover will each contribute
$106 million, and the management team, led by KAP CEO Peter Hendriks, will
invest alongside them. As such, says Eric-Joost Ernst, an investment
manager at Candover, the purchase could equally be described as an
institutional buyout or a management buyout. Announced on October 18, the
transaction is expected to be completed by early 2003.
--> http://www.infotoday.com/newsbreaks/nb021104-1.htm

There is a lot of speculation in the full story about the reasons for the sale 
and whether the buyers will try to buy Bertlesmann-Springer, which is also 
for sale, and Blackwells which is going through a family dispute which may 
lead to a sale.

It may a Chinese curse, but we do live in intreresting times... who would have
thought that our world of academic publishing would become so attractive to
venture capitalists.

-- 

Best wishes

Peter Strickland
Managing Editor
IUCr Journals

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