ANN ARBOR, Mich., Feb. 12 /PRNewswire-FirstCall/ -- ProQuest Company
(NYSE: PQE) today reported that it has closed on its previously announced
transaction with Cambridge Information Group (CIG), under which CIG has
acquired its ProQuest Information and Learning segment for approximately
$222 million. CIG will combine its Bethesda, Maryland-based CSA subsidiary
with Ann Arbor, Michigan-based ProQuest Information and Learning to create
a new, privately held independent company, ProQuest-CSA LLC.
About ProQuest Company
ProQuest Company (NYSE: PQE) is based in Ann Arbor, Michigan, and is a
publisher of K-12 education solutions. We provide products and services to
our customers through our ProQuest Education business segment, comprised of
three product lines -- Voyager Expanded Learning, Learning Page and
ExploreLearning. Voyager is a leading provider of K-12 curriculum products,
in-school core reading programs, reading and math intervention programs,
and professional development programs for school districts throughout the
United States. The family of Learning Page websites -- Reading A-Z,
Raz-Kids, Vocabulary A-Z, Reading-Tutor, Writing A-Z and Learning Page --
includes more than 1,650 downloadable books (including English, Spanish and
French versions) and thousands of teaching and learning materials.
ExploreLearning offers a catalog of modular, interactive simulations in
math and science called Gizmos, for teachers and students in grades 6-12.
Gizmos are fun for students, easy to use, and flexible enough to support
many different teaching styles and contexts. They are designed as
supplemental curriculum materials that support state and national
curriculum standards.
About ProQuest Information and Learning
ProQuest Information and Learning is a world leader in collecting,
organizing, and publishing information for researchers, faculty and
students in libraries and schools. It is widely known for its strength in
business and economics, general reference, genealogy, humanities, social
sciences and STM content. The company develops premium databases comprising
periodicals, newspapers, dissertations, out-of-print books, and other
scholarly information from more than 9,000 publishers worldwide. Users
access the information through the ProQuest(R) Web-based online information
system, Chadwyck- Healey(R) electronic and microform resources, UMI(R)
microform and print reference products, eLibrary(R) and SIRS(R) educational
resources, and Serials Solutions e-resource access and management
solutions. ProQuest(R) Smart Search was named "Best Specialist Search
Product" by the International Information Industry Awards in late 2005. For
more information about ProQuest Information and Learning, visit
http://www.il.proquest.com
About Cambridge Information Group
Cambridge Information Group (CIG) is a privately owned group of
information services companies and educational institutions located around
the world. CIG's operating companies include: ProQuest-CSA, R.R. Bowker,
RefWorks and the Sotheby's Institute of Art. CIG is also the largest
shareholder of Navtech, Inc. (Nasdaq: NAVH.OB)
About CSA
CSA has been an innovator and leader in publishing and distributing
quality abstracts and indexes for more than 30 years. A worldwide
information company, CSA's products serve as a guide to researchers,
faculty, librarians and students enabling discovery and aiding the
identification, management and organization of quality information. CSA
specializes in publishing and distributing, in print and electronically,
more than 100 bibliographic and full-text databases and journals in four
primary editorial areas: natural sciences, social sciences, arts &
humanities and technology. CSA is headquartered in Bethesda, Maryland and
has offices throughout the U.S., Canada, Latin America, Australia, Hong
Kong, Japan, Europe and the United Kingdom. Researchers in more than 4,000
institutions worldwide use CSA information resources and CSA's print
journals are used in more than 80 countries. For more information about
CSA, visit http://www.csa.com .
Forward-Looking Statements
Some of the statements contained herein constitute forward-looking
statements. These statements relate to future events, the results of our
pending restatement process, or our future financial performance and
involve known and unknown risks, uncertainties and other factors that may
cause our or our markets' actual results, levels of activity, performance
or achievements to be materially different from any future results, levels
of activity, performance or achievements expressed or implied by such
forward-looking statements. These risks and other factors you should
specifically consider include, but are not limited to the company's ability
to successfully conclude the review of its financial results, the discovery
of additional restatement items, changes in customer demands or industry
standards, adverse economic conditions, loss of key personnel, the
company's ability to favorably manage costs and expenses associated with
its ongoing litigation and SEC investigation, decreased educational
funding/budgets, the ability to successfully close and integrate other
acquisitions, demand for ProQuest's products and services, success of
ongoing product development, maintaining acceptable margins, ability to
control costs, the impact of federal, state and local regulatory
requirements on ProQuest's business including K-12, the impact of
competition and the uncertainty of economic conditions in general, the
ability to successfully attract and retain customers, sell additional
products to existing customers, and win new business due to changes in
technology, the ability to maintain a broad customer base to avoid
dependence on any one single customer, K-12 enrollment and demographic
trends, the level of educational funding, the level of education technology
investments, global economic conditions, financial market performance, and
other risks listed under "Risk Factors" in our regular filings with the
Securities and Exchange Commission. In some cases, you can identify
forward- looking statements by terminology such as "may," "should,"
"expects," "plans," "anticipates," "believes," "estimates," "predicts,"
"potential," "continue," "projects," "intends," "prospects," "priorities,"
or the negative of such terms or other comparable terminology. These
statements are only predictions. Actual events or results may differ
materially. The company undertakes no obligation to update any of these
statements.
SOURCE ProQuest Company
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Related links:
http://www.proquestcompany.com
http://www.il.proquest.com http://www.csa.com
http://www.prnewswire.com/comp/108291.html /
CONTACT:
Jennifer Chelune, Investor Relations Manager,
ProQuest Company, +1-734-997-4910, jennifer.chelune@proquest.com
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