NL - Bridgepoint acquires Wolters Kluwer Education for EUR 774m

WKE is a European educational publisher focusing on curriculum based education and learning solutions. The company provides primary, secondary, and vocational educational material, content and services in seven European countries (the Netherlands, Sweden, UK, Germany, Belgium, Austria, and Hungary). WKE is headquartered in Amsterdam, employs around 1300 staff and recorded a turnover of EUR 317m in 2006.

Expenditure on online delivered content represents the fastest growing sub-segment of the market, especially in primary and secondary education as teachers start to adopt new teaching methods. It is predicted that between 2005 and 2010 online delivered content will increase by a quarter. WKE is currently investing significant resource to develop new product development systems and e-learning content. Going forward, Bridgepoint aims to accelerate the company's expansion plans in e-learning, new product development and through possible market consolidation opportunities.

Bridgepoint’s advisers involved in this transaction included Greenhill & Co (corporate finance), Clifford Chance (legal), and Deloitte (commercial and financial due diligence). Wolters Kluwer’s advisers were Lehman Brothers (corporate finance), Allen & Overy (legal) and Citigroup & Lehman Brothers provided a fairness opinion on the transaction.

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• Benelux