John Wiley & Sons acquires London-based open access publisher

John Wiley & Sons Inc. completed the acquisition of Hindawi Ltd., a London-based open access publisher, for $298 million in cash.

The publishing company funded the acquisition with a combination of cash on hand and borrowings from its existing revolving credit facility.

John Wiley & Sons expects to achieve significant revenue synergies from the expansion of its open access journal portfolio, according to a Jan. 5 news release.

The company expects the deal to be accretive to free cash flow immediately and accretive to adjusted EPS in John Wiley & Sons' fiscal year 2023.

Separately, John Wiley & Sons announced that it will resume its share repurchase program. The company had suspended share repurchases in March 2020 due to COVID-19-related market disruption and economic uncertainty.