2007 Top 10 Transactions

Publishing, Information and Training Industries

Source: Whitestone Communication's Annual Who's Buying Whom Report

  Buyer Seller Comments
1. Thomson Corporation Reuters $17.1 billion; Business, financial and global news and information services; Rev. $5.2 billion; op. inc. $521.6MM
2. Apax Partners, OMERS Capital Partners Thomson Corporation $7.75 billion for Thomson Learning and Nelson Canada; Higher education, career learning and library reference assets. Rev. $2.4 billion, profit $383MM
3. Houghton Mifflin Company Reed Elsevier $4 billion ($3.7 billion in cash and $300MM in common stock) for Harcourt Education, Harcourt Trade and Greenwood-Heinemann; Elementary, secondary and supplemental education publishers
4. Kohlberg Kravis Roberts & Co., Citigroup Private Equity, S.A.C. Capital Management, LLC, SPG Partners; Bregal Investments, Caisse de depot et placement du Quebec, Sterling Capital, Makena Capital, Torreal S.A., and Southern Cross Capital Laureate Education, Inc. $3.8 billion; Career-oriented undergraduate and graduate programs through online and campus-based universities; Annualized rev. $1.2 billion, EBITDA $268.9MM
5. Google Inc. DoubleClick Inc. (Hellman & Friedman, JMI Equity) $3.1 billion; Digital marketing technology and services
6. Macrovision Corporation Gemstar-TV Guide International, Inc. $2.8 billion; Media, entertainment, and technology company that develops, licenses, markets and distributes products and services primarily for the consumer market
7. Source Interlink Companies, Inc. Primedia Inc. $1.2 billion for Primedia's Enthusiast Media division; Deal includes more than 70 magazines, and more than 90 Web sites; Rev. $524.8MM
8. Veronis Suhler Stevenson BAdvanstar Holdings Corp. (DLJ Merchant Banking Partners) $1.14 billion; Publisher serving the fashion & licensing, life sciences and power sports industries: 2006 adjusted EBITDA $94MM
9. Informa Group Datamonitor Plc. $992MM; Data, analysis and the automotive, consumer, energy, financial services, healthcare and technology/telecoms industries; Rev. $139MM, EBITDA $32MM
10. Cengage Learning Houghton Mifflin $750MM for Houghton Mifflin College Division; College textbooks and related materials