Five months after putting a portion of its trade and travel publishing assets up for sale, trade and professional publisher John Wiley & Sons has entered into an agreement to sell its travel business, including its popular Frommer’s brand to Google. Google’s strategy is to bolster its local review content, according to the Wall Street Journal.
“The Frommer’s team and the quality and scope of their content will be a great addition to the Zagat team,” a Google spokesperson told Digital Book World. “We can’t wait to start working with them on our goal to provide a review for every relevant place in the world.”
According to an announcement from Wiley today, the move will help it redeploy its resources toward its professional-trade, scientific, technical, medical, and scholarly and global education businesses.
The assets up for sale had $85 million in revenue in the fiscal year ending April 30, 2011, according to the March announcement. The company had $1.78 billion in revenue in fiscal 2012, 40% of which was digital.
Terms of the sale were not disclosed.