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Cengage Group

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Cengage Group
Founded2007;17 years ago(2007)
Headquarters locationBoston,Massachusetts, United States
Key peopleMichael Hansen(CEO)
Publication typesEducational content, technology, and services
Imprints
  • 4LTR Press
  • Aplia
  • Cengage Learning PTR
  • Chilton
  • ed2go
  • Gale
  • Heinle
  • Milady
  • MindTap
  • National Geographic Learning
RevenueIncreaseUS$1.5 billion(2017)
No.of employees5,000 (2017)
Official websitecengagegroup.com

Cengage Groupis an American educational content, technology, and services company for the higher education,K–12,professional, and library markets. It operates in more than 20 countries around the world.[1][2][3]

Company information[edit]

The company is headquartered in Boston, Massachusetts, and has some 5,000 employees worldwide across nearly 38 countries.[2][4]It was headquartered at its Stamford, Connecticut, office until April 2014.[5]

Galeis Cengage'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 e-books and in microform.[6]

Cengage Unlimited[edit]

On December 5, 2017, Cengage announced Cengage Unlimited, a subscription service that allows students to pay for access to the company's entire digital higher education catalog by the semester or year, rather than buying individual textbooks.[7]This service became available during summer 2018, and was reported to be "in line with expectations" with its initial sales goal.[8]TheUniversity of Missouriis the first university to offer this plan to all students, effective January 2019.[9]

History[edit]

International Thomson Publishingentered the publishing business by buying Wadsworth Publishing in 1979. In 1981 International Thomson purchased the publishing operations ofLitton Industries,including Van Nostrand Reinhold and Delmar.[10]International Thomson acquired reference publisherGale Researchin 1985.[11]International Thomson acquired South-Western Publishing fromSFNin 1986.[12]In 1992, Thomson acquired Course Technology.[13]In 1995, Thomson acquired educational reference publisherPeterson's.[14]In 1997, Van Nostrand Reinhold was sold toJohn Wiley & Son.[15]

In 2000 Thomson Learning was created out of a restructuring of International Thomson Publishing.[16]Later that year Thomson acquired the higher education title ofHarcourtfromReed Elsevier,[17]and the test prep publisher Arco fromIDG Books.[18]In 2002, Wadsworth acquired F.E. Peacock Publishers.[19]It was announced on October 25, 2006, that Thomson Learning would be offered for sale by theThomson Corporation,with an estimated value of up to US$5 billion.[20][21]The company was bought by a private equity consortium consisting ofApax PartnersandOMERS Capital Partnersfor US$7.75 billion, and the name was changed to Cengage Learning on July 24, 2007.[22]In 2007, Cengage Learning sold Peterson's toNelnet.[23]In 2011, Cengage Learning acquired the National Geographic Society's school publishing unit, and combined this school business with the GlobalELTbusiness to create and 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.[24]

In September 2013 David Shaffer retired as chairman of the company.[25]He had previously been executive vice president of The Thomson Corporation from 2005 to 2006, and then President and CEO of both Thomson Publishing International and Thomson Learning.[26]

The company had acquired a large amount of debt through the course of its initial buyout and subsequent acquisitions, and had seen declining revenue through a shrinking market for paper textbooks. Cengage Learning filed for bankruptcy under Chapter 11 on July 2, 2013.[22][27]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. Post-bankruptcy, the company decided to focus on developing digital study guides and other educational supplements, as well as hard-copy textbooks. The company moved its headquarters fromStamford, Connecticut,to Boston.[28]

In January 2015 they announced expansion of their LearnLaunch Accelerator program, which provides seed funding and intensive coaching to promising startups, to theUniversity of Chihuahuain Mexico.[29][30]

In November 2016 Cengage Learning rebranded as simply Cengage.[citation needed]

In May 2019 Cengage announced its potential merger with another major publisher,McGraw-Hill Education,thereby creating a duopoly with Pearson in the market and would have used McGraw-Hill as the merged corporate name with Michael Hansen as CEO.[31][32]It is estimated Cengage has 24% of the market while McGraw-Hill has 21%, Pearson, the current market leader, has about 40 percent of the market and Wiley has about 7 percent.[33]

The merger was called off on May 1, 2020.[34]

In August 2021 Cengage rebranded as Cengage Group.[citation needed]

Acquisitions[edit]

In addition to organic growth, Cengage has expanded through acquisitions within the publishing industry. Notable acquisitions include:

Date of acquisition announced Asset acquired Industry
March 1, 2004 Education to Go[35] Online continuing education courses
May 16, 2008 PAL Publications[36] Professional reference series
June 2, 2008 Houghton Mifflin College Division[36] Publishing for2-and4-yearcolleges
July 17, 2008 Gatlin Education Services[37] Web-based trainingfor education providers
December 16, 2008 HighBeam Research[38] Paid search engine of newspapers and magazines
August 1, 2011 National Geographic School Publishing[24] Publishing for K-12 schools and English language programs
September 2015 Learning Objects, Inc Learning management systems and adaptive education tools
October 2015 Pathbrite, Inc ePortfolio services for learning, reflection, and career advancement
September 2016 WebAssign[39] Online instructional application for faculty and students.
March 2022 InfoSec Institute[40] Cybersecuritytraining

Brands/imprints[edit]

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

Since 2015, South-Western products have been branded as Cengage Learning.[41]

Cengage Unlimited, a SaaS solution, launched on August 1, 2018. [42]

Rankings[edit]

In 2016, based on its 2015 revenues,Publishers Weeklyranked the company 14 out of 57 publishers worldwide, a decline of three slots from the previous year. The list includes both trade and educational publishers.[43]

See also[edit]

References[edit]

  1. ^(June 27, 2014)Global Publishing Leaders 2014: CengageArchivedJune 12, 2015, at theWayback Machinepublishersweekly.com
  2. ^abCompany Info – Wall Street Journal.Cengage LearningArchivedJune 18, 2015, at theWayback Machine
  3. ^Company Overview of Cengage Learning, Inc.ArchivedAugust 9, 2017, at theWayback MachineBloombergBusiness
  4. ^"Global Publishing Leaders 2017: Cengage Learning Holdings II LP".PublishersWeekly.com.RetrievedSeptember 6,2018.
  5. ^"Ed publishing firm Cengage will move into new Pier 4 building – The Boston Globe".BostonGlobe.com.RetrievedSeptember 6,2018.
  6. ^Gale: A Cengage Learning CompanyArchivedOctober 17, 2013, at theWayback MachineCAUL (Council of Australian University Librarians)
  7. ^"Boston publisher launches a Netflix for textbooks – The Boston Globe".BostonGlobe.com.
  8. ^McKenzie, Lindsay (November 8, 2018)."Promising Early Sales for Cengage Unlimited".Inside Higher Ed.RetrievedNovember 20,2018.
  9. ^"University of Missouri System Chooses Cengage Unlimited Subscriptions to Save Students Money on Course Materials".Business Insider. November 16, 2018.RetrievedNovember 20,2018.
  10. ^Mehegan, David (January 26, 2002). "Little, Brown Shrinking Again".Boston Globe(3rd ed.). Boston, Mass. pp. –1.ISSN0743-1791.ProQuest405447754.
  11. ^"Sale to International Thomson of Publisher Is Set for $66 Million".Wall Street Journal.New York, N.Y. May 8, 1985. p. 1.ISSN0099-9660.ProQuest397970242.
  12. ^Landro, Laura (October 15, 1986). "SFN to Sell Unit to Time For $520 Million – Sale of Another Subsidiary To a Canadian Concern Is Set for $270 Million".Wall Street Journal.New York, N.Y. p. 1.ISSN0099-9660.ProQuest397963634.
  13. ^Diamond, Howard (November 24, 1992). "Thomson Acquires Course Technology, Inc".Business Wire.New York, N.Y. p. 1.ProQuest447043731.
  14. ^"Thomson acquires Peterson's Guides".Publishers Weekly.October 30, 1995.RetrievedDecember 5,2019.
  15. ^Chen, David W. (October 10, 1997)."Metro Business; John Wiley Acquires A Trade Book Unit".The New York Times.ISSN0362-4331.RetrievedOctober 20,2019.
  16. ^"PW: Thomson Learning Adapts to Market".PublishersWeekly.com.
  17. ^"The Thomson Corporation to Acquire Select Harcourt Business Units From Reed Elsevier".Business Wire.New York, N.Y. October 27, 2000. p. 1.ProQuest445856898.
  18. ^"Thomson Learning Acquires ARCO Imprint from IDGB; Peterson's to Provide Consumers a Singular Resource for a Wide Range of Test-Prep Materials and Information".Business Wire.New York, N.Y. June 12, 2000. p. 1.ProQuest445835057.
  19. ^"Wadsworth buys F.E. Peacock Publishers Inc".San Francisco Business Times.RetrievedNovember 21,2020.
  20. ^Thomas, Helen (October 25, 2006)Thomson to put learning unit on the block.FT Alphaville. Financial Times.
  21. ^(October 25, 2006)Thomson to sell education unitsArchivedJune 5, 2015, at theWayback MachineBoston.com
  22. ^ab"Cengage Learning Files for Bankruptcy".New York Times.July 2, 2013.Archivedfrom the original on November 8, 2014.RetrievedNovember 7,2014.
  23. ^"Nelnet Acquires Peterson's"(Press release). Nelnet. July 27, 2006. Archived fromthe originalon July 14, 2011.RetrievedSeptember 5,2007.
  24. ^abJinks, Beth (June 24, 2011)Apax's Cengage Buying National Geographic's School PublisherArchivedJuly 31, 2016, at theWayback MachineBloomberg.com
  25. ^Edgecliffe-Johnson, Andrew (July 6, 2013)Debt-laden Cengage in hunt for new chiefArchivedJuly 14, 2012, at theWayback MachineThe Financial Times
  26. ^Executive Profile – David H. Shafferbloomberg.com
  27. ^Howard, Jennifer (July 3, 2013)Publisher's Bankruptcy Filing Comes as Market for Print Textbooks ShrinksArchivedMay 12, 2015, at theWayback MachineThe Chronicle of Higher Education
  28. ^"Textbook publisher quits Stamford for Boston".Associated Press.April 15, 2014.RetrievedNovember 11,2019.
  29. ^Borchers, Callum (April 1, 2014)Cengage exits bankruptcy, focuses on e-books in BostonArchivedSeptember 15, 2014, at theWayback Machinebostonglobe.com
  30. ^Shulman, Eden (Feb 12, 2015)"Boston ed-tech firm Cengage Learning announces the expansion of LearnLaunch to Latin America".Archivedfrom the original on May 2, 2015.RetrievedJune 4,2015.BetaBoston –Boston Globe
  31. ^ McKenzie, Lindsay (May 2, 2019)."Rival Publishers Join Forces".insidehighered.com.RetrievedJune 6,2019.
  32. ^"McGraw-Hill, Cengage Agree to Merge".Publishers Weekly.RetrievedJuly 8,2019.
  33. ^"College textbook merger raises 'serious concern' among U.S. lawmakers".Reuters.March 11, 2020.RetrievedMarch 11,2020.
  34. ^"McGraw-Hill, Cengage Jointly Agree to Terminate Planned Merger".Bloomberg.May 4, 2020.
  35. ^MacFadyen, Ken (June 9, 2008)Thomson Course Technology Acquires Education To Go To Expand Continuing Education OfferingsArchivedJanuary 29, 2016, at theWayback Machine
  36. ^abMacFadyen, Ken (June 9, 2008)Cengage Buys Houghton Mifflin's College UnitArchivedJune 5, 2015, at theWayback Machinethemiddlemarket.com
  37. ^Cengage Learning Acquired Gatlin Education Services. Was this a good decision? owler.com[permanent dead link]
  38. ^Polanka, Sue (Dec 16, 2008)ArchivedJune 5, 2015, at theWayback MachineNo Shelf Required – Wright State University Libraries
  39. ^"Cengage Acquires WebAssign, Strengthening Market Position in Science, Technology and Math".Cengage.September 27, 2016.Archivedfrom the original on November 16, 2016.RetrievedNovember 15,2016.
  40. ^"Cengage Group Completes Acquisition of Infosec".Infosec.March 2, 2022.RetrievedAugust 22,2022.
  41. ^"There's a new way to find South-Western titles"ArchivedApril 8, 2017, at theWayback Machine,Cengage Learning. Retrieved April 8, 2017.
  42. ^(August 4, 2018)eLearning Inside News: Cengage
  43. ^"The World's 57 Largest Book Publishers, 2015"ArchivedNovember 15, 2015, at theWayback Machinepublishersweekly.com. June 26, 2015. Retrieved September 7, 2015.

External links[edit]

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