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News, features and resources for media and publishing professionals. Friday, June 1, 2001 Blogs | Subscribe | Interviews | Events | Films | Book Blog Media Cynic | Forum | Advertising | Classifieds | Jobs Vivendi Universal to Acquire Houghton Mifflin Vivendi Universal, announced that it has agreed to acquire Boston-based Houghton Mifflin Company, a U.S. educational publisher, in a transaction valued at $2.2 billion. The transaction, which is subject to regulatory approvals, would boost Vivendi Universal Publishing's position to No. 2 worldwide in the education field. Commenting on the announcement, Jean-Marie Messier, Chairman and Chief Executive Officer of Vivendi Universal, said: ``The acquisition of Houghton Mifflin propels Vivendi Universal Publishing to the No. 2 position worldwide in education publishing and significantly enhances its position in the U.S. textbook market.'' When this transaction is completed, VU Publishing will be focused on three main segments: games, education and literature, and health. Approximately 48% of VUP's revenues will come from the U.S. and the remainder from Europe and the rest of the world. VUP will also maintain its presence in news and economic publications, with Groupe Express, Groupe Expansion and Groupe Etudiant. With consolidated sales in excess of $1.0 billion, Houghton Mifflin is the fourth largest U.S. educational publisher, and one of the oldest publishing houses founded in Boston in 1832. Houghton Mifflin serves all components of the education market (elementary and secondary schools, supplemental, testing and college) and utilizes multiple platforms (core basal textbooks, supplemental materials, assessment, instructional technology). The company also publishes a line of reference works and fiction and non-fiction for adults and young readers, including The Lord of the Rings and provides computer-testing capabilities to the corporate market. Related Links: · Vivendi Universal · Houghton Mifflin Click here to return to the homepage of The Write NewsTM Click here to subscribe to our free weekly email newsletter. www.writenews.com Copyright © 1997-2007 by Writers Write, Inc. All Rights Reserved.