20th Mar 2020 15:44
(Alliance News) - Bloomsbury Publishing PLC on Friday said it has acquired assets from London-based academic publisher Zed Books Ltd for GBP1.8 million.
The assets, expected to secure GBP800,000 in annual revenue, will sit in Bloomsbury's Academic & Professional division.
Bloomsbury said: "The acquisition is expected to break even in its first year, before reorganisation and acquisition costs, then be earnings enhancing thereafter, with improved profit following the integration of the business into Bloomsbury."
Shares in the company were 4.3% higher at 229.00 pence each in London on Friday afternoon.
By Eric Cunha; [email protected]
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