The family-owned Holtzbrinck Publishing Group will merge most of its Macmillan Science and Education division with Springer Science & Business Media, which is owned by BC Partners, a private equity firm,
the
New York Times
' “DealBook” column reported.
Holtzbrinck, which is based in Germany, will own a 53% stake in the venture, which will generate annual revenues of about $18 billion and have more than 14,000 employees worldwide, the
Times
article said.
Springer CEO Derk Haank will be CEO of the combined company. Holtzbrinck CEO Stefan von Holtzbrinck will be chairman, the
Times
report said. The deal is expected to close in the first half of 2015.
Included in the merger are Holtzbrinck titles
Nature
and
Scientific American
, as well as Macmillan's Palgrave Macmillan publishing unit,
Reuters reported.
A
Financial Times
report
noted that Holtzbrinck will retain 100% control of its consumer books division, its higher education business and some technology and software businesses. (Sources: “DealBook,”
New York Times
, Jan. 15, 2015; Reuters, Jan. 15, 2015;
Financial Times
, Jan. 16, 2015.)
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