John Wiley & Sons Inc., the Hoboken-based educational publishing company, is paying $298 million for Hindawi Ltd., an open-access publishing company specializing in scientific research publishing, it announced Tuesday.
The acquisition will help Wiley increase its position as a global leader in research, it said in a news release, giving it a company focused on the rapidly growing OA scholarly publishing model. The London-based company has a portfolio of more than 200 peer-reviewed journals, Wiley said.
“The acquisition of Hindawi enables Wiley to move farther and faster toward our goal of meeting the world’s urgent and escalating need for new knowledge,” Brian Napack, Wiley’s CEO and president, said in a prepared statement. “Hindawi is a true pioneer in the industry, empowering researchers with a fully digital, user-friendly publishing process that gets their life-changing, peer-reviewed discoveries out into the world faster and more efficiently.”
Wiley said Hindawi is projected to generate approximately $40 million in revenue for fiscal 2020, with year-over-year growth of 50%. The acquisition will double Wiley’s OA journal portfolio, potentially increasing author retention and strengthening its position in the sector, particularly in the fast-growing China market.