Netherlands-based global information services company Wolters Kluwer has completed the sale of its pharma-related marketing & publishing services business of Wolters Kluwer (India) Pvt Ltd to Springer Science+Business Media (Springer) for an undisclosed sum.
The deal is part of a global transaction with Springer for the unit, struck last November, and comprises around 35 per cent of the company’s pharma-related assets (in terms of revenue) including the leading brands Adis and inScienceCommunications.
Wolters’ marketing & publishing services division is a global provider of strategic marketing, publishing and business intelligence products and services. It caters to the pharmaceutical industry, as well as medical libraries and academic & research institutions.
In 2010, Wolters Kluwer clocked annual revenues of €3.6 billion ($4.6 billion). It currently employs around 19,000 people worldwide and operates in Europe, North America, the Asia Pacific and Latin America. Professionals across legal, business, tax, accounting, finance, audit, risk, compliance and healthcare rely on Wolters Kluwer’s information-enabled tools and software solutions to manage their businesses.
The proceeds of the global stake sale would be used for general corporate purposes, such as debt reduction in line with the company’s stated objectives and fresh investments in the business. The sale is also a part of Wolters’ strategy to focus on core health markets through its health & pharma solutions division.
“The sale of Wolters’ pharma-related business will allow us to put future investments in our core healthcare business in key growth areas, such as point of care,” said Nancy McKinstry, CEO and chairman of the company.
“This acquisition will significantly strengthen our position in international corporate and healthcare markets, and allow us to expand Springer’s STM operations, not only in the Americas and the Asia-Pacific regions, but also in parts of Europe where we do not yet have offices,” commented Springer CEO Derk Haank.
J. Sagar Associates (JSA) advised and assisted in the sale of the marketing & publishing services unit of Wolters Kluwer (India).
Springer Science+Business Media is a global scientific publisher, delivering content through innovative information products and services. In the science, technology and medicine (STM) sector, the group publishes around 2,000 journals and more than 7,000 new books a year, besides producing the largest STM eBook collection worldwide. Springer has operations in about 20 countries in Europe, the USA, and Asia, and more than 5,500 employees. In 2010, it generated annual sales of around €866 million.