Cengage dashboard
In August 2021, Cengage rebranded as Cengage Group. It is estimatedĬengage has 24% of the market while McGraw-Hill has 21%, Pearson, the current market leader, has about 40 percent of the market and Wiley has about 7 percent. In May 2019, Cengage announced its potential merger with another major publisher, McGraw-Hill Education, thereby creating a duopoly with Pearson in the market and would have used McGraw-Hill as the merged corporate name with Michael Hansen as CEO. In November 2016, Cengage Learning rebranded as simply Cengage. In January 2015, they announced expansion of their LearnLaunch Accelerator program, which provides seed funding and intensive coaching to promising startups, to the University of Chihuahua in Mexico. The company moved its headquarters from Stamford, Connecticut to Boston. Post-bankruptcy, the company decided to focus on developing digital study guides and other educational supplements, as well as hard-copy textbooks. Cengage Learning emerged from bankruptcy on April 1, 2014, eliminating approximately $4 billion of its funded debt and securing $1.75 billion in exit financing. Cengage Learning filed for bankruptcy under Chapter 11 on July 2, 2013. The company had acquired a large amount of debt through the course of its initial buyout and subsequent acquisitions, and had seen declining revenue through a shrinking market for paper textbooks. He had previously been executive vice president of The Thomson Corporation from 2005 to 2006, and then President and CEO of both Thomson Publishing International and Thomson Learning. In September 2013, David Shaffer retired as chairman of the company. The global brand combined the former Cengage Learning ELT and National Geographic School Publishing imprints and sub-brands under one unified identity. In 2011, Cengage Learning acquired the National Geographic Society's school publishing unit, and combined this school business with the Global ELT business to create and launch the National Geographic Learning brand. In 2007, Cengage Learning sold Peterson's to Nelnet. The company was bought by a private equity consortium consisting of Apax Partners and OMERS Capital Partners for US$7.75 billion, and the name was changed to Cengage Learning on 24 July 2007. It was announced on Octothat Thomson Learning would be offered for sale by the Thomson Corporation, with an estimated value of up to US$5 billion. Later that year Thomson acquired the higher education title of Harcourt from Reed Elsevier, and the test prep publisher Arco from IDG Books. In 2000, Thomson Learning was created out of a restructuring of International Thomson Publishing. In 1997, Van Nostrand Reinhold was sold to John Wiley & Son. In 1995, Thomson acquired educational reference publisher Peterson's. In 1992, Thomson acquired Course Technology.
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International Thomson acquired South-Western Publishing from SFN in 1986. International Thomson acquired reference publisher Gale Research in 1985. In 1981, International Thomson purchased the publishing operations of Litton Industries, including Van Nostrand Reinhold and Delmar. International Thomson Publishing entered the publishing business by buying Wadsworth Publishing in 1979. The University of Missouri is the first university to offer this plan to all students, effective January 2019. This service became available during summer 2018, and was reported to be "in line with expectations" with its initial sales goal. On December 5, 2017, Cengage announced Cengage Unlimited, a subscription service that allows students to pay for access to the company's entire digital higher education catalog by the semester or year, rather than buying individual textbooks.
The company creates and maintains databases that are published online, in print, as e-books and in microform. Gale is Cengage's library reference arm and specializes in e-research and educational publishing for libraries, schools and businesses. It was headquartered at its Stamford, Connecticut office until April 2014. The company is headquartered in Boston, Massachusetts, and has approximately 5,000 employees worldwide across nearly 38 countries.