John Wiley & Sons Inc., publisher of the For Dummies brand, said it has retained adviser Allen & Co. to explore the sale of some of its publishing assets in its professional/trade business and said it will redeploy its resources to For Dummies.
“We plan to drive long-term growth, accelerate our digital transformation, and optimize our return on investment by investing in content and services that provide our customers in research, learning and professional practice with knowledge resources that help them to realize their professional and personal goals,” Chief Executive Stephen M. Smith said.
From a Wiley News Release:
In Wiley’s fiscal year ending April 30, 2011, the publishing assets offered for sale generated approximately $85 million of revenue. “These renowned programs, which produce print books, e-books, and online products and services under highly recognizable global brands, have contributed greatly to Wiley’s success. I am confident that they will continue to generate significant benefits for new owners providing the focused commitment needed to achieve their full strategic potential,” Mr. Smith noted.
No categories from the Company’s global Scientific, Technical, Medical, and Scholarly and Global Education operating units will be included in this planned sale.