EQT V and Government of Singapore Investment Corporation acquired Springer Science+Business Media (“Springer”) in 2010 from Cinven and Candover. Springer is a leading publisher of scientific, technical and medical (“STM”) journals by titles and the largest publisher of STM books. The company has approximately 7,300 employees and its largest customer groups are universities and academic research libraries. Revenues are generated worldwide, but with the majority in Europe and the US. EQT’s key initiatives focused on transforming Springer into a digital and pure play STM publisher with increased investments in development of e.g. a proprietary content database SpringerLink and digitization of the entire Springer Book Archive.
In 2013, EQT V sold Springer to BC Partners for an enterprise value of EUR 3.3 billion, with EQT maintaining a small minority ownership.
Key events during EQT’s ownership
- Launched new SpringerLink platform, a proprietary database which is the world's second largest journal library and largest eBook library
- Creation of the Springer Book Archive, the largest initiative of its type, to fully digitize the entire book library of Springer dating back to the mid-1800's
- Strengthening the STM segment with acquisitions of MPS, Papers, and selected Hindawi open access journals
- Launched further open access initiatives