Cengage Group

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Cengage Group
File:Cengage Group logo.svg
Founded2007; 19 years ago (2007)
Headquarters locationBoston, Massachusetts, United States
Key peopleMichael Hansen (CEO)
Publication typesEducational content, technology, and services
Imprints
  • 4LTR Press
  • Aplia
  • Cengage Learning PTR
  • Chilton
  • ed2go
  • Gale
  • Heinle
  • Milady
  • MindTap
  • National Geographic Learning
RevenueIncrease US$1.5 billion (2023)
No. of employees5,000 (2017)
Official websitecengagegroup.com

Cengage Group is an American educational content, technology, and services company for higher education, K–12, professional, and library markets. It operates in more than 20 countries around the world.[1][2][3]

The company is headquartered in Boston, Massachusetts, and has approximately 5,000 employees in nearly 38 countries.[2][4] It was headquartered at its Stamford, Connecticut office until April 2014.[5]

Gale is Cengage's library reference arm and specializes in e-research and educational publishing for libraries, schools and businesses. The company creates and maintains databases that are published online, in print, as e-books and in microform.[6]

History

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International Thomson Publishing entered the publishing business by buying Wadsworth Publishing in 1979. In 1981 International Thomson purchased the publishing operations of Litton Industries, including Van Nostrand Reinhold and Delmar.[7] International Thomson acquired reference publisher Gale Research in 1985.[8] International Thomson acquired South-Western Publishing from SFN in 1986.[9] In 1992, Thomson acquired Course Technology.[10] In 1995, Thomson acquired educational reference publisher Peterson's.[11] In 1997, Van Nostrand Reinhold was sold to John Wiley & Sons.[12]

In 2000, Thomson Learning was created out of a restructuring of International Thomson Publishing.[13] Later that year Thomson acquired the higher education title of Harcourt from Reed Elsevier,[14] and the test prep publisher Arco from IDG Books.[15] In 2002, Wadsworth acquired F.E. Peacock Publishers.[16] It was announced on October 25, 2006, that Thomson Learning would be offered for sale by the Thomson Corporation, with an estimated value of up to US$5 billion.[17][18] The company was bought by a private equity consortium consisting of Apax Partners and OMERS Capital Partners for US$7.75 billion, and the name was changed to Cengage Learning on July 24, 2007.[19] In 2007, Cengage Learning sold Peterson's to Nelnet.[20]

In 2011, Cengage Learning acquired the National Geographic Society's school publishing unit, and combined this school business with the Global ELT business to create and launch the National Geographic Learning brand. The global brand combined the former Cengage Learning ELT and National Geographic School Publishing imprints and sub-brands under one unified identity.[21]

In September 2013, David Shaffer retired as chairman of the company.[22] He had previously been executive vice president of The Thomson Corporation from 2005 to 2006, and then President and CEO of both Thomson Publishing International and Thomson Learning.[23]

The company had acquired significant debt during its initial buyout and subsequent acquisitions, and experienced declining revenues as the market for paper textbooks contracted. Cengage Learning filed for bankruptcy under Chapter 11 on July 2, 2013.[19][24] Cengage Learning emerged from bankruptcy on April 1, 2014, eliminating approximately $4 billion of its funded debt and securing $1.75 billion in exit financing. Post-bankruptcy, the company decided to focus on developing digital study guides and other educational supplements, as well as hard-copy textbooks. The company moved its headquarters from Stamford, Connecticut, to Boston.[25]

In January 2015, they announced expansion of their LearnLaunch Accelerator program, which provides seed funding and intensive coaching to promising startups, to the University of Chihuahua in Mexico.[26][27]

In November 2016, Cengage Learning rebranded as simply Cengage. [citation needed]

In May 2019, Cengage announced its potential merger with another major publisher, McGraw-Hill Education, thereby creating a duopoly with Pearson in the market and would have used McGraw-Hill as the merged corporate name with Michael Hansen as CEO.[28][29] It is estimated Cengage has 24% of the market while McGraw-Hill has 21%, Pearson, the current market leader, has about 40 percent of the market and Wiley has about 7 percent.[30]

The merger was called off on May 1, 2020.[31]

In August 2021, Cengage rebranded as Cengage Group.[citation needed]

Acquisitions

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In addition to organic growth, Cengage has expanded through acquisitions within the publishing industry. Notable acquisitions include:

Date of acquisition announced Asset acquired Industry
March 1, 2004 Education to Go[32] Online continuing education courses
May 16, 2008 PAL Publications[33] Professional reference series
June 2, 2008 Houghton Mifflin College Division[33] Publishing for 2- and 4-year colleges
July 17, 2008 Gatlin Education Services[34] Web-based training for education providers
December 16, 2008 HighBeam Research[35] Paid search engine of newspapers and magazines
August 1, 2011 National Geographic School Publishing[21] Publishing for K-12 schools and English language programs
September 2015 Learning Objects, Inc Learning management systems and adaptive education tools
October 2015 Pathbrite, Inc ePortfolio services for learning, reflection, and career advancement
September 2016 WebAssign[36] Online instructional application for faculty and students.
March 2022 InfoSec Institute[37] Cybersecurity training
February 2025 Nanovis[38]

Products

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Cengage Unlimited

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On December 5, 2017, Cengage announced Cengage Unlimited, a subscription service that allows students to pay for access to the company's entire digital higher education catalog by the semester or year, rather than buying individual textbooks.[39] This service became available during summer 2018, and was reported to be "in line with expectations" with its initial sales goal.[40] The University of Missouri is the first university to offer this plan to all students, effective January 2019.[41]

Brands/imprints

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The company's product lines include 4LTR Press, Aplia, Cengage Learning PTR, Chilton, Education To Go, Gale, Milady, MindTap, and National Geographic Learning.

Since 2015, South-Western products have been branded as Cengage Learning.[42]

Cengage Unlimited, a SaaS solution, launched on August 1, 2018. [43]

Rankings

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In 2024, based on its 2015 revenues, Publishers Weekly ranked the company 15 out of 47 publishers worldwide, based on revenues of $1,503,000,000 (US). The list includes both trade and educational publishers.[44]

See also

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References

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  1. ^ (June 27, 2014) Global Publishing Leaders 2014: Cengage Archived June 12, 2015, at the Wayback Machine publishersweekly.com
  2. ^ a b Company Info – Wall Street Journal. Cengage Learning Archived June 18, 2015, at the Wayback Machine
  3. ^ Company Overview of Cengage Learning, Inc. Archived August 9, 2017, at the Wayback Machine BloombergBusiness
  4. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  5. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  6. ^ Gale : A Cengage Learning Company Archived October 17, 2013, at the Wayback Machine CAUL (Council of Australian University Librarians)
  7. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
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  17. ^ Thomas, Helen (October 25, 2006) Thomson to put learning unit on the block. FT Alphaville. Financial Times.
  18. ^ (October 25, 2006) Thomson to sell education units Archived June 5, 2015, at the Wayback Machine Boston.com
  19. ^ a b Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  20. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  21. ^ a b Jinks, Beth (June 24, 2011) Apax's Cengage Buying National Geographic's School Publisher Archived July 31, 2016, at the Wayback Machine Bloomberg.com
  22. ^ Edgecliffe-Johnson, Andrew (July 6, 2013) Debt-laden Cengage in hunt for new chief Archived July 14, 2012, at the Wayback Machine The Financial Times
  23. ^ Executive Profile – David H. Shaffer bloomberg.com
  24. ^ Howard, Jennifer (July 3, 2013) Publisher's Bankruptcy Filing Comes as Market for Print Textbooks Shrinks Archived May 12, 2015, at the Wayback Machine The Chronicle of Higher Education
  25. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  26. ^ Borchers, Callum (April 1, 2014) Cengage exits bankruptcy, focuses on e-books in Boston Archived September 15, 2014, at the Wayback Machine bostonglobe.com
  27. ^ Shulman, Eden (Feb 12, 2015) Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value). BetaBoston – Boston Globe
  28. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
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  31. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  32. ^ MacFadyen, Ken (June 9, 2008) Thomson Course Technology Acquires Education To Go To Expand Continuing Education Offerings Archived January 29, 2016, at the Wayback Machine
  33. ^ a b MacFadyen, Ken (June 9, 2008) Cengage Buys Houghton Mifflin's College Unit Archived June 5, 2015, at the Wayback Machine themiddlemarket.com
  34. ^ Cengage Learning Acquired Gatlin Education Services. Was this a good decision? owler.com [permanent dead link]
  35. ^ Polanka, Sue (Dec 16, 2008) Archived June 5, 2015, at the Wayback Machine No Shelf Required – Wright State University Libraries
  36. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
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  42. ^ "There's a new way to find South-Western titles" Archived April 8, 2017, at the Wayback Machine, Cengage Learning. Retrieved April 8, 2017.
  43. ^ (August 4, 2018) eLearning Inside News: Cengage
  44. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
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