Bloomsbury has bought academic publisher Continuum in a deal worth £20.1m. The publisher described the buy, its sixth in the academic and professional field during the past five years, as "transformational" and said it would provide synergies as well as the ability to improve sales. It said this would be particularly applicable to the US market, where Bloomsbury would now have an academic editorial and marketing team for the first time following the buy.
Bloomsbury said the acquisition was part of its strategy to increase its proportion of academic and professional revenues. It said this area was more predictable, had lower related costs of sale, higher margins and were less reliant on retail bookshop sales. Bloomsbury said it would move the Continuum business in due course from its current offices in Waterloo to its new home in Bedford Square. Oliver Gadsby, chief executive of Continuum, will be staying with the business for a few months to assist with the integration process.