This entry is sourced from an 8-K exhibit (Exhibit 99.1) filed by John Wiley & Sons, Inc. with the SEC on June 2, 2026, announcing that the acquisition had already been completed ("today announced it has acquired Emerald Publishing Limited"), making this a closed-deal announcement rather than a signing announcement. Emerald was expected to generate over USD 85 million of revenue in its fiscal year ending December 31, 2026, with mid-single-digit revenue growth and 92% recurring subscription revenue.
On financial advisory, Centerview Partners LLC served as financial advisor to Wiley, the acquirer, while Evercore served as financial advisor to Emerald, the target being sold by Cambridge Information Group.
On legal advisory, Arnold & Porter Kaye Scholer LLP served as legal advisor to Wiley, and Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor to Emerald.
The deal structure disclosed is a straightforward all-cash purchase of Emerald from its parent, Cambridge Information Group, valued at £337 million (USD 452 million). Wiley expects to realize approximately USD 30 million of annual run-rate cost synergies by year three post-close, with meaningful synergy realization by year two, and expects the deal to be accretive to Adjusted EPS in year one.
What is not disclosed: the press release does not specify a closing date beyond confirming the deal had already closed as of the announcement, does not break out the £337 million valuation into enterprise versus equity components or disclose any assumed debt, and does not state a termination fee (consistent with this being an announced-as-closed transaction rather than a pending signed agreement).