John Wiley & Sons, Inc. (JWA, JWB) said Tuesday it has acquired Hindawi Limited, a scientific research publisher and an innovator in open access or OA publishing, for a total purchase price of $298 million.
Wiley noted that the acquisition of Hindawi will significantly increase its position in research by adding quality, scale and growth to its open access publishing program.
Open access is a fast growing scholarly publishing model that allows peer-reviewed articles to be read and shared immediately, making important research broadly available.
Privately-held Hindawi, based in London, has a portfolio of more than 200 peer-reviewed scientific, technical, and medical journals, a publishing platform, and a low-cost infrastructure.
Wiley said that the acquisition of Hindawi will unlock significant and profitable new growth by tapping deeper into the fast-growing OA market and by delivering innovative publishing services to researchers, societies, and institutions around the world.
For the fiscal year ending December 31, 2020, Hindawi is projected to generate about $40 million in revenue with year over year growth of 50 percent.
Wiley's acquisition of Hindawi adds to its recent acquisitions of mThree, zyBooks, Madgex, and Knewton Alta.
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