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Bloomsbury Publishing acquires Red Globe Press assets to boost digital resources offering
StockMarketWire.com
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Publisher Bloomsbury Publishing said it had signed a sale and purchase agreement to acquire certain assets of Red Globe Press, the academic imprint, from Macmillan Education Limited, a part of Springer Nature Group, for £3.7 million.
Under the terms of the deal, the company paid £2.1 million in cash at and up to £1.6 million would be paid on or post-completion, subject to assignment of certain contracts.
Red Global Press has a backlist of more than 7,000 titles and publishes more than 100 new titles per year, with content including digital platforms, textbooks, research-driven materials and general academic publishing.
'The acquired RGP titles are a good strategic fit, strengthen Bloomsbury's existing academic publishing, and establish new areas of academic publishing in Business and Management, Study Skills and Psychology,' the company said.
'RGP's three digital products will be migrated to Bloomsbury Digital Resources' own platform and its content added to Bloomsbury collections,' it added.
The business would operate within Bloomsbury's academic and professional division.
At 8:33am: (LON:BMY) Bloomsbury Publishing PLC share price was 0p at 258p
Story provided by StockMarketWire.com
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