1. What is the scope of the deal?
Elsevier has purchased Knovel in its entirety.
2. Were there multiple bidders?
Yes, there were several.
3. Why did Knovel investors decide to sell to Elsevier?
Knovel was not looking to sell and was aggressively investing in its business. We were approached by several potential acquirers because of the market’s growth potential and Knovel’s leading position. This presented an attractive opportunity to partner and grow the business much faster and more aggressively than we would on our own. Knovel investors and management believe that the partnership with Elsevier would benefit our customers, investors and employees to the greatest extent vs. other potential partners.