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Cengage Learning

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Cengage Learning

Cengage Learning
Founded 2007
Country of origin United States
Headquarters location Boston, Massachusetts
Key people
  • Michael Hansen — Chief Executive Officer
  • Fernando Bleichmar – Chief Strategy Officer
  • Alexander Broich – President, International
  • Ken Carson – General Counsel
  • Jim Donohue – Chief Product Officer
  • Dean D. Durbin — Chief Financial Officer
  • Sandi Kirshner – Chief Marketing Officer
  • George Moore – Chief Technology Officer
  • Kevin Stone – Chief Sales and Marketing Officer
[1]
Publication types educational content, technology, and services
Imprints
  • 4LTR Press
  • Aplia
  • Cengage Learning PTR
  • Chilton
  • ed2go
  • Gale
  • Milady
  • MindTap
  • National Geographic Learning
Revenue US$1.5 billion (2014)
Owner(s) Apax Partners, Searchlight Capital Partners, Kohlberg Kravis Roberts & Co., Oaktree Capital Management, Oak Hill Advisors, BlackRock Financial Management, Franklin Mutual Advisers, and others[2]
Number of employees 5,500 (2014)
Official website .com.cengagewww

Cengage Learning, Inc. is an educational content, technology, and services company for the higher education and K-12, professional and library markets worldwide. Cengage Learning has operations in more than 20 countries around the world.[3]

Company information

The company is headquartered in Boston, Massachusetts, and has approximately 5,500 employees worldwide across 20 countries. It was headquartered at its Stamford, Connecticut office until April 2014.

Cengage Learning serves secondary, higher education, and graduate-level students, teachers, libraries, government agencies, and corporations in both traditional and distance learning environments.

Gale is Cengage Learning’s library reference arm and specializes in e-research and educational publishing for libraries, schools and businesses. The company creates and maintains databases that are published online, in print, as eBooks and in microform.

In 2011, Cengage Learning acquired the National Geographic Society’s school publishing unit to launch the National Geographic Learning brand. The global brand combined the former Cengage Learning ELT and National Geographic School Publishing imprints and sub-brands, under one unified identity.

Services

Cengage Learning offers print and digital textbooks, instructor supplements, online reference databases, distance learning courses, test preparation materials, corporate training courses, career assessment tools, materials for specific academic disciplines, and custom solutions.

History

Cengage Learning, formerly Thomson Learning, was created out of a restructuring of International Thomson Publishing. Cengage Learning filed for bankruptcy under Chapter 11 on July 2, 2013.[4] The company had acquired a large amount of debt through the course of its initial buyout and subsequent acquisitions. Cengage Learning emerged from bankruptcy on April 1, 2014, eliminating approximately $4 billion of its funded debt and securing $1.75 billion in exit financing.

Sale to private equity

It was announced on October 25, 2006, that Thomson Learning would be offered for sale by the Thomson Corporation, with an estimated value of up to US$5 billion. The company was bought by a private equity consortium consisting of Apax Partners and OMERS Capital Partners for US$7.75 billion, and the name was changed to Cengage Learning on 24 July 2007.[5]

Acquisitions

In addition to organic growth, Cengage Learning has expanded through acquisitions within the publishing industry. Notable acquisitions include:
Date of acquisition announced Asset acquired Industry
16 May 2008 PAL Publications[6] Professional reference series
2 June 2008 Houghton Mifflin College Division[7] Publishing for 2- and 4-year colleges
17 July 2008 Gatlin Education Services[8] Web-based training for education providers
16 December 2008 HighBeam Research[9] Paid search engine of newspapers and magazines
1 August 2011 National Geographic School Publishing[10] Publishing for K-12 Schools

Brands/imprints

The company's product lines include: 4LTR Press, Aplia, Cengage Learning PTR, Chilton, Education To Go, Gale, Milady, MindTap, and National Geographic Learning.

Rankings

In 2014, based on its 2013 revenues, Publishers Weekly ranked the company at number nine out of 56 publishers worldwide. The list includes both trade and educational publishers.[11]

Notes

  1. ^ Cengage Executive Leadership cengage.com. Retrieved 2011-05-19.
  2. ^ Callum Borchers (1 April 2014). "Cengage emerges from bankruptcy with Boston as its electronic publishing base". BostonGlobe.com. Retrieved 2014-09-15. 
  3. ^ http://www.cengage.com/about/. 
  4. ^ "Cengage Learning Files for Bankruptcy". New York Times. July 2, 2013. Retrieved 2014-11-07. 
  5. ^ "Cengage Learning – Press Releases – Thomson Learning Announces New Name – CENGAGE Learning". Cengage Learning. July 24, 2007. Retrieved 2010-01-08. 
  6. ^ "Cengage Learning Acquires PAL Publications Cengage Learning to be the exclusive publisher of the DEWALT Trade Reference Series" (Press release). Cengage Learning. May 16, 2008. Retrieved December 13, 2012. 
  7. ^ "Cengage Learning – Press Releases – Cengage Learning Completes Acquisition of Houghton Mifflin College Division Assets". Cengage Learning. June 2, 2008. Retrieved December 13, 2012. 
  8. ^ "Cengage Learning – Press Releases – Cengage Learning Acquires Gatlin Education Services". Cengage Learning. 17 July 2008. Retrieved December 13, 2012. 
  9. ^ Gwen (December 16, 2008). "Gale Acquires HighBeam Research, Inc., Gale press release". Websearchguide.ca. Retrieved December 13, 2012. 
  10. ^ "Cengage Learning Completes Acquisition of National Geographic Society’s School Publishing Unit and Unveils National Geographic Learning Brand". Websearchguide.ca. August 1, 2011. Retrieved December 13, 2012. 
  11. ^ "The World's 56 Largest Book Publishers, 2014" publishersweekly.com. Jun 27, 2014. Retrieved 2014-11-05.

References

  • Mike W. Peng, Global Business (2009) p 3
  • Hoover's Handbook of World Business 2011 (2011) p 355
  • Press Release (Ed2go)
  • Press Release (Houghton Mifflin)
  • Association of American Publishers
  • APAX Partners
  • Boston Herald: Houghton Mifflin Acquisition

External links

  • Official website
  • Gale, part of Cengage Learning
  • National Geographic Learning, part of Cengage Learning
  • ed2go, a part of Cengage Learning
  • CengageBrain.com
  • Questia
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