logo-loader

Bloomsbury to buy academic and professional publisher Tottel for £9.96 mln cash

Published: 10:11 01 Jul 2009 BST

no_picture_pai

Bloomsbury Publishing PLC (LSE: BMY) said it entered into an agreement to acquire independent UK and Ireland professional and academic title specialist Tottel Publishing Ltd for £9.96 million, to be renamed  Bloomsbury Professional upon completion.
 
The acquisition is expected to be immediately earnings enhancing.

For the 12 months to end February 2009, Tottel generated revenue of £6.25 million and EBITDA of £1.19 million. The business was founded in 2004 and employs 27 people.

Bloomsbury has identified academic and professional publishing as a growing niche sector.  The proposed acquisition of Tottel fulfils a strategic objective of Bloomsbury in pursuing opportunities in the academic and professional publishing market and follows from the acquisitions of Methuen, Berg Publishers, and The Arden Shakespeare and the set-up of Bloomsbury Academic.

Bloomsbury added it now has a solid platform in this sector and will continue to expand by exploring further strategic acquisitions.

Bloomsbury Publishing credits Sarah J Maas novels amid stronger performance

  Bloomsbury Publishing PLC (LSE:BMY) Head of Investor Relations Tamsin Garrity joined Proactive's Stephen Gunnion with details of a trading update the publishing firm had to release after it became evident its full-year revenue and profit would be well ahead of analysts'...

on 15/2/24