10th Dec 2019 14:12
(Alliance News) - Bloomsbury Publishing PLC on Tuesday said it has completed the acquisition of Oberon Books Ltd, the London-based drama publisher for GBP1.2 million in cash.
The publisher of fiction and non-fiction said the newly acquired company will operate within its Academic & Professional division.
For 2018, Oberon generated GBP1.0 million of revenue, but Bloomsbury said it sees opportunities for profit enhancements following the integration, with the acquisition expects to break even in its first year.
"The Oberon programme aligns very well with our existing publishing within Methuen Drama. The Oberon list strengthens our offerings in contemporary theatre," said Managing Director Jonathan Glasspool.
"Bloomsbury is looking forward to developing and diversifying its position as the world's leading international publisher in drama and the performing arts," added Glasspool.
Bloomsbury shares were trading 0.2% lower in London on Tuesday at 259.48 pence each.
By Evelina Grecenko; [email protected]
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