Encyclopaedia Britannica Reportedly Seeking Valuation of $1 Billion Through IPO
Global publisher and provider of educational resources Encyclopaedia Britannica is seeking a valuation of about $1 billion as it moves ahead with plans go public, according to a report.
The Chicago-based company, which offers a vast array of resources to schools, libraries, and other audiences, could launch an initial public offering as soon as June, Bloomberg reported.
In January, Encyclopaedia Britannica, also known as the Britannica Group, publicly stated that it was confidentially submitting a draft registration statement with the Securities and Exchange Commission related to making an IPO.
The company said at the time that that the price range for the IPO, and the number of shares offered by Britannica Group and Encyclopaedia Britannica Holding, S.A. — the sole stockholder of Britannica Group — hadn’t been determined yet. A confidential submission for a public offering at the SEC means an organization can take initial steps toward issuing a public offering without making it public.
If the company then decides to pursue an IPO, it would have to follow public disclosure requirements.
A spokesman for Encyclopaedia Britannica declined to comment to EdWeek Market Brief.
The Britannica Group provides content to an audience that includes students, teachers, and the general public, and it says its work as a “purveyor of facts” dates to 1768. Britannica has been delivering digital learning products since the 1980s, and today Britannica Education is one of its divisions.
The company’s portfolio of education products and services spans curriculum, language study, digital encyclopedias, and professional readiness training through Encyclopædia Britannica, Britannica Education, Britannica Knowledge Systems, Melingo, and Merriam-Webster.
It says its content has been translated into over 100 languages and is used by more than 150 million students worldwide.
Image by Getty
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