Education publisher Elsevier Finalizes Purchase of Mendeley

MENDELEY: Acquired by academic publishing giant Elsevier for somewhere between $69M and $100M, reports TechCrunch. Rumors of this deal had been floating around since January. Mendeley, with offices in London and New York, offered researchers and students a social network and tool to search for, manage, and share research papers and articles. Its team of 50 will join Elsevier, with Mendeley CEO Victor Henning taking a seat as VP of strategy. Comments on TechCrunch and HackerNews revealed some apprehension over what's next in store, pointing out criticisms of Elsevier for high prices and not being very open-friendly. Mendeley's Community Technical Manager, Ricardo Vidal, responded with promises of "more storage space, more features coming faster, mobile apps, access to more content" on the way.

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