15 June 2023
From the MarketWatch newsletter
“Wiley said that it would look to divest its noncore education businesses to focus on its strongest and most profitable segments as well as the large market opportunities in research and learning.
Among its businesses it plans to divest are University Services, Wiley Edge and CrossKnowledge, which will be marked as businesses held for sale beginning in the first quarter of fiscal 2024.”
From the Wiley announcement:
- Go Forward: Focusing Wiley on its strongest and most profitable businesses and large market opportunities in Research and Learning.
- Portfolio Actions: Divesting non-core education businesses, including University Services (known as online program management), Wiley Edge (formerly Talent Development) and CrossKnowledge. These assets will be reported as “businesses held for sale” starting in Q1 2024. In Q4 2023, Wiley divested its test prep and Advancement Courses lines in Academic.
- Fiscal 2024 Transition Year: Streamlining organization and rightsizing cost structure to reflect these portfolio actions. The benefits of these actions will be realized in Fiscal 2025 and Fiscal 2026.