Google acquires Frommer (travel assets of Wiley)
Companies in Relationship
Initial Announcement Date:
Consideration: $22 million in cash, $3.3 million of which will be held in escrow (Source: Wiley)
Google will acquire the travel assets of John Wiley & Sons Inc. for $22 million in cash, $3.3 million of which will be held in escrow related to standard commercial representations and warranties. The assets include all of interests in the Frommer's brand and WhatsonWhen brands.
April 2013 -- Google is reversing course and selling the Frommer brand to its founder, Arthur Frommer. Google is keeping Frommer's social media accounts.
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