Google Acquires Frommer’s For Around $23 Million
Google is acquiring the Frommer’s from publisher company John Wiley & Sons. Frommer’s is a brand that is associated with travel-related content. I could see this acquisition complementing Google’s earlier acquisition of Zagat, a restaurant reviews website. According to sources with The New York Times, the price of the acquisition is at around $23 million.
Wiley is a 200-year old publisher company that is based in Hoboken, New Jersey. They plan to use the money from Google to boost their educational businesses. This past March, it was announced that Wiley put up brands like Frommer’s, Webster’s New World, and CliffNotes up for sale. Between these properties, Wiley generates about $85 million in revenue.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry