Wiley announced the acquisition of Emerald Publishing Limited from Cambridge Information Group (CIG) in an all-cash transaction valued at £337 million, or approximately $452 million. The deal significantly expands Wiley’s research publishing footprint, increasing its journal portfolio to roughly 2,500 titles while strengthening its position in economics, business, finance, and the broader social sciences.
The acquisition comes as demand for trusted, peer-reviewed content continues to rise amid growing investment in artificial intelligence and data analytics. By adding Emerald’s extensive portfolio of journals, books, case studies, and archival content, Wiley is enhancing its proprietary content assets that can support both research publishing and AI-driven applications.
Founded in 1967 and headquartered in the United Kingdom, Emerald publishes nearly 500 journal brands and more than 8,000 book titles. Its content spans disciplines including economics, business, finance, accounting, management, education, engineering, information and knowledge management, operations, public policy, and environmental management.
Wiley said the transaction strengthens its scale advantage in research while adding a high-margin recurring revenue stream. The company expects the acquisition to be accretive to adjusted earnings per share in the first year and values the deal at approximately seven times adjusted EBITDA, including targeted cost synergies.
For Emerald’s fiscal year ending December 31, 2026, the company is expected to generate more than $85 million in revenue, with mid-single-digit growth. Approximately 92% of revenue is recurring subscription revenue, and 85% is generated outside North America.
Wiley expects to achieve approximately $30 million in annual run-rate cost synergies by the third year following the acquisition, with meaningful realization beginning by year two. The company also sees opportunities to expand Emerald’s presence in the U.S. market and drive cross-selling opportunities across academic and corporate customer segments.
Centerview Partners served as financial advisor to Wiley, while Arnold & Porter Kaye Scholer acted as legal advisor. Evercore served as financial advisor to Emerald, and Fried, Frank, Harris, Shriver & Jacobson acted as legal advisor.
KEY QUOTES:
“Emerald represents an outstanding strategic fit for Wiley – a complementary portfolio, a compatible culture, and decades of specialized content that will meaningfully expand our scale and portfolio depth in both research publishing and research intelligence. This transaction reflects our conviction that research and AI are mutually reinforcing: our proprietary content and data fuels AI, and AI accelerates the pace of publishing. Emerald materially strengthens both — expanding our peer-reviewed content base and adding a high-margin, recurring revenue stream that we expect to drive meaningful shareholder value.”
Matthew Kissner, President and CEO, Wiley
“Wiley is the ideal home for Emerald and the global communities we serve. For almost 60 years, we have been dedicated to publishing the highest-quality peer-reviewed research that bridges the gap between academic discovery and practical application, as well as developing an internal and external-facing culture that promotes inclusion and belonging. Joining Wiley gives us the best-in-class platform, an extended global footprint, and further reach into academic and corporate markets to drive real-world impact, which aligns with our founding mission. We are excited to join Wiley and build on their exceptional foundation for growth, innovation, and integrity.”
Vicky Williams, CEO, Emerald
“Emerald has built an exceptional reputation in academic publishing through its commitment to quality, innovation, and global impact. We are incredibly proud of the business the Emerald team has built and the value created over the years. Wiley is the ideal partner for Emerald’s next chapter, with the scale, capabilities, and strategic vision to further expand its reach and influence across the global research community.”
Andy Snyder, CEO, Cambridge Information Group
