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Harcourt Purchase Largest Publishing Transaction in 2000 Jim Milliot -- 1/1/01 Reed Elsevier's $4.5-billion purchase of Harcourt General was the publishing industry's largest deal in 2000 as the giant Anglo-Dutch company increased its presence in the professional publishing market while also making the company a major player in the elhi market for the first time. The $4.5-billion price tag, which earned a price-to-revenue multiple of 1.9, excludes $1.2 billion in debt that Reed will be assuming as part of the purchase. Pearson made two acquisitions in the year, with its $2.5-billion purchase of the testing and evaluation company National Computer Systems being the priciest of the industry's major transactions. For the most part, the deals in 2000 followed industry standards, with educational and professional companies fetching the highest prices and trade houses the lowest. Highlights on the retail side included B&N.com's purchase of Fatbrain.com, B&N's acquisition of Funco, and the Zany Brainy-Noodle Kidoodle merger.
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Harcourt Purchase Largest Publishing Transaction in 2000
Jan 01, 2001
A version of this article appeared in the 01/01/2001 issue of Publishers Weekly under the headline:
