Cambridge Info Group To Acquire ProQuest Information and Learning for $222 Million

Some acquisition news to report.

ProQuest Sells Info Unit to Cambridge (via AP)
From the article:

ProQuest said Cambridge will combine its CSA subsidiary with ProQuest Information and Learning to create a new private company that will operate in Bethesda, Md., and Ann Arbor, Mich.

From the announcement:

Andrew M. Snyder, president of CIG, said, “Combining ProQuest’s unparalleled collections with CSA’s own rich content builds upon our mission of delivering an exceptional research service. We will create a new company that will leverage deep content sets with a history of innovative product development to bring the community of libraries, researchers, faculty and students one of the most extensive electronic resources available.”

After the transaction closes, Martin Kahn will serve as CEO of the new company and will relocate to Ann Arbor, Michigan. Matt Dunie, current president of CSA will serve as president of the new company.

David “Skip” Prichard, president ProQuest Information and Learning, will continue to lead the business actively until the transaction closes…The transaction is expected to close after receiving regulatory approvals and is also subject to financing conditions.

See Also: Letter from David “Skip” Prichard
PDF; 1 page.
From the letter:

Today, our headline is changing to read: â€œProQuest Information and Learning combining with Cambridge Scientific Abstracts.â€ I am absolutely delighted that Cambridge Information Group sees the ProQuest that I seeâ€”a company with a wonderful reputation; loyal customers; a talented product creation team; a world class sales and service organization. I want to assure you that the ProQuest Information and Learning Company as a whole is joining CSA. That means all of your contracts, license rights, and account balances will be intact.