Dec. 22, 2015, 3:23 PM
- With approval of shareholders, Kaplan (GHC +2%) has wrapped up its acquisition of SmartPros.
- The deal, for about $16.9M, was struck with the accounting education firm in October.
- SmartPros, which logged $13.5M in revenues last year, features a set of services and content including the Financial Management Network, CPA Report and Smart Pros Advantage accounting subscription products. It has a library of more than 2,800 hours of education programming, primarily in online form.
- Previously: Kaplan agrees to buy UK advanced-education specialist (Dec. 14 2015)
- Previously: Kaplan boosting accounting-education offerings by acquiring SmartPros (Oct. 22 2015)
Dec. 14, 2015, 3:21 PM
- Education firm Kaplan International (GHC -1.4%) has chalked up another acquisition, agreeing to buy UK-based Mander Portman Woodward from Levine Leichtman Capital Partners.
- The deal should close in early January and terms weren't disclosed. MPW is a specialist in so-called Sixth Form College, where students 16-19 study for advanced qualifications.
- Late last month, Kaplan had acquired vocational educator CleanEdison. It's the largest division at Graham Holdings, with 1.2M students served annually through higher ed, professional and vocational ed, and test and university preparation.
- Previously: Kaplan acquires energy vocational schooler CleanEdison (Nov. 30 2015)
Nov. 13, 2015, 4:54 PM
- Graham Holdings (NYSE:GHC) has acquired Group Dekko, a specialist in electrical components for workplace power and architectural lighting, as well as for the automotive, appliance and medical industries.
- Terms weren't disclosed. CEO John May and its existing management team will continue to run the 63-year-old Indiana company.
- Shares of Graham were up 1.3% after hours prior to the news.
- Previously: O'Shaughnessy succeeds 24-year CEO Graham at Graham Holdings (Nov. 12 2015)
Oct. 22, 2015, 2:37 PM
- Education services company Kaplan (GHC -1.1%) is acquiring accounting-education specialists SmartPros (SPRO +29.9%), for about $16.9M.
- That comes to $3.57/share, or a 40% premium over SmartPros' closing price yesterday. SmartPros is currently trading at $3.52.
- The company -- which posted $13.5M in revenues for 2014 -- has a suite of services for continuing education in accounting. Kaplan's Dr. Andrew Temte says SmartPros offerings will provide a good domestic complement to the company's global accountancy programs.
- The deal should close by year-end with approval by SmartPros shareholders.
Aug. 4, 2014, 5:34 PM
- Bloomberg reports Gannett (NYSE:GCI) has agreed to take full ownership of Cars.com for $1.8B.
- Gannett currently owns 27% of Cars.com parent Classified Ventures. Reuters reported in May Gannett is interested in partnering with P-E firms to acquire Cars.com, potentially at a price of $3B.
- McClatchy (NYSE:MNI), Tribune (OTCPK:TRBAA), AH Belo (NYSE:AHC), and Graham Holdings (NYSE:GHC) also own stakes in Classified Ventures. The company sold Apartments.com in March for $585M, leaving Cars.com as its only property.
- MNI +20.6% AH. AHC +2.8%. GCI +0.8%.
Apr. 11, 2014, 12:02 PM
- About a month ago, Berkshire Hathaway (BRK.A, BRK.B) and Graham Holdings (GHC -0.4%) reached agreement in principal for Berkshire to acquire some cash and a Graham subsidiary which includes WPLG - a Miami-based TV station - in exchange for about 1.6M shares of Graham common stock owned by Berkshire.
- Besides the acquisition of a local media outlet which The Oracle is fond of, the transaction looks like it allows Buffett to cash out of a highly profitable investment in Graham without paying any capital gains tax.
Mar. 12, 2014, 4:55 AM
- Media-holding company Cox Enterprises and London-based private-equity firm Apax Partners are interested in bidding for auto-sales Web site Cars.com, Bloomberg reports.
- Cox already owns the AutoTrader site in the U.S. while Apax controls a business of the same name in the U.K.
- Cars.com's owner, newspaper consortium Classified Ventures, is hoping to fetch $3B in a sale. Classified's investors are Gannett (GCI), McClatchy (MNI), Tribune (TRBAA), A.H. Belo (AHC) and Graham Holdings (GHC).
Mar. 10, 2014, 3:48 AM
- Newspaper consortium Classified Ventures, which includes Gannett (GCI), McClatchy (MNI) and Tribune (TRBAA), is looking to sell Cars.com for $3B, the WSJ reports.
- Gannett, whose holding in Classified is 27%, could be interested in increasing its stake in the auto-sales Web site.
- Any deal would come amid rising valuations for e-commerce sites and after Classified Ventures last week said it was selling apartments.com for $585M.
- The sale of Cars.com would effectively mark the end of the consortium, whose other owners are A.H. Belo (AHC) and Graham Holdings (GHC).
Nov. 27, 2013, 5:45 PM| Nov. 27, 2013, 5:45 PM
Sep. 3, 2013, 5:49 PM
Aug. 5, 2013, 4:41 PM
- The Amazon founder/CEO is acquiring The Washington Post's (WPO) newspaper publishing ops for $250M.
- Amazon is not involved in the transaction.
- The deal includes "The Washington Post and other publishing businesses, including the Express newspaper, The Gazette Newspapers, Southern Maryland Newspapers, Fairfax County Times, El Tiempo Latino and Greater Washington Publishing."
- Slate magazine, TheRoot.com, Foreign Policy magazine, and other Washington Post assets aren't part of the transaction.
- WPO +1.9% AH. (PR)
- Update (5:12PM ET): Shares now +5.5% AH.
Jul. 18, 2013, 10:09 AM
Talks about diversification: Washington Post (WPO) agrees to acquire Forney, a provider of products and systems for power and industrial boilers, from United Technologies (UTX) for an undisclosed amount. The deal adds to Washington Post's purchase last year of Celtic Healthcare and is part of the company's "ongoing strategy to invest in companies with "demonstrated earnings potential and strong management teams." Which sounds right out of the playbook of long-time Washington Post shareholder Warren Buffett. (PR)| Jul. 18, 2013, 10:09 AM
Oct. 1, 2012, 10:50 AM
Washington Post (WPO +0.5%) announces it will purchase a majority interest in healthcare provider Celtic Healthcare for an undisclosed amount. CEO Donald Graham says the move fits the company's "decentralized operating philosophy" to find companies with strong earnings potential.| Oct. 1, 2012, 10:50 AM
Jul. 13, 2012, 9:09 AM
As part of the recent sale of Digg, a once-high-flying news-sharing site that was blown away by Facebook and Twitter, the Washington Post (WPO) reportedly ended up buying Digg's team for $12M (previous), and LinkedIn (LNKD) bought 15 of the company's patents for $3.75M-$4M. The site itself went to privately-owned Betaworks for $500K-$725K. Google hired Digg founder Kevin Rose in March.| Jul. 13, 2012, 9:09 AM | 2 Comments
May 1, 2012, 1:05 PMThe Washington Post (WPO) is reportedly acquiring the technology team of once-hot online content aggregator Digg, though not the company itself. The Post will likely use its new talent to bolster its social media push: like many newspapers, it has received a major increase in traffic thanks to its adoption of Facebook's Open Graph. Digg founder Kevin Rose recently left for Google. | May 1, 2012, 1:05 PM | 1 Comment