Wiley's Acquisition of Jossey-Bass Completed
Posted on June 18, 1999John Wiley & Sons, Inc. has announced that it has completed the acquisition of the San Francisco-based publisher Jossey-Bass from Pearson. The deal, which was subject to Hart-Scott-Rodino review, was first announced by Wiley on May 24, 1999. The purchase price was approximately $82 million in cash.
Jossey-Bass, which was founded in 1967, is a publisher of books and journals for professionals and executives, primarily in the areas of business, psychology, and education/health management. In conjunction with the announcement, William J. Pesce, President and Chief Executive Officer of Wiley, stated, "The company's financial condition is very healthy, as reflected in our ability to compete successfully for acquisitions. We are very pleased with the company's performance. The upcoming release of fiscal 1999 year-end results (scheduled for June 23) will reflect a continuation of the company's strong earnings momentum."