Global publishing company John Wiley & Sons has announced that it has signed an agreement to acquire Atypon, a Silicon Valley-based publishing-software company, for $120 million, according to a press release in the company website. The deal will most likely go through by October 1, 2016.
“Wiley is committed to enabling the success of our customers and partners to advance research, discovery and learning,” said Mark Allin, President and CEO of Wiley. “Atypon offers an outstanding set of publishing solutions that can help industry participants like Wiley drive the discovery of research. We will ensure Atypon’s flexible platform continues to fully support the research community and industry partners so they may better serve their own customers,” he added.
Atypon is headquartered in Santa Clara, CA, with around 260 employees in the U.S. and other continents. The company provides Literatum, a platform that primarily provides service in the large scientific, technical, medical and scholarly industry. The company generated over $31 million in calendar year 2015 revenue.
Atypon will be run as an independent business unit while reaping benefits from the financial stability and continuity of Wiley’s 209 year-old organization. Clients use Atypon as their core journal-delivery platform. Wiley will also become a client of Atypon.
Georgios Papadopoulos, Atypon’s founder and CEO, said “We have worked hard with our partners to build the industry’s premier publishing platform and support the needs of the research community. With Wiley’s commitment we are very excited about the many opportunities to accelerate the expansion of Atypon’s service offerings strengthening the fabric of scholarly communications, expanding access, readership, and utilization, lowering operating costs, enabling organizations to create and expand offerings and products on their own, and building value for all stakeholders.”