UNIVERSITY OF TORONTO PRESS INC. ANNOUNCES THE ACQUISITION OF THE SOCIAL SCIENCE AND HISTORY LISTS FROM BROADVIEW PRESS INC.
March 19, 2008 – For Immediate Release
UTP and Broadview today announced that the two companies had entered into an agreement for UTP to acquire the inventory and all contractual rights relating to the social science and history lists of Broadview. The acquisition includes approximately 260 books in print and a further 75 works in progress.
The acquisition of Broadview's social science and history lists supports UTP's strategy to expand its publishing of upper level university course books. The addition of Broadview's titles, combined with certain of their editorial and sales staff, will extend UTP's reach into the post-secondary marketplace with titles recognized internationally for the quality of their scholarship.
"This is an exciting combination for our customers, authors, and employees. We are announcing today an expansion opportunity that we think is a perfect fit for our company," said John Yates, President, Publisher, and CEO of University of Toronto Press. "The addition of the Broadview titles will move us forward in an important area of our publishing program immediately, compared to what otherwise would have taken years to grow organically."
"The Board of Broadview is delighted with the sale of its important collection of social science and history titles to a strong Canadian publisher," said Don LePan, Founder and Director of Special Projects of Broadview Press.
Michael Harrison, President and CEO of Broadview, will be joining UTP to continue to lead the development of the course book list.
Following the completion of the acquisition, UTP Distribution will assume responsibility for managing the distribution of the acquired titles.
The acquisition is subject to regulatory approval and other customary closing conditions. It is expected to close on or about May 1, 2008.
University of Toronto Press Inc. is a not-for-profit company separately incorporated from the University of Toronto. It is Canada's oldest scholarly publisher of books and journals. Through its Distribution Division, UTP provides book distribution services to more than 70 publishers.
Broadview Press is a publicly traded company (TSX Venture Exchange (TSVX) symbol BDP) headquartered in Calgary, Alberta. The company has roughly 600 titles in print, and is currently publishing approximately 50 new titles per year.
University of Toronto Press - John Yates 416-978-2239 ex. 2222
Broadview Press - Michael Harrison 519-837-0915