‘Dummies’ Publisher to Buy Cliffs Notes

Here’s a no-brainer: The publisher of “Windows for Dummies” and other self-help books is buying Cliffs Notes, publisher of study guides that could be considered the original books for dummies, or at least for busy and lazy students. IDG Books Worldwide Inc. said it will buy 100% of the stock in Cliffs Notes, a privately held publisher based in Lincoln, Neb. It will pay $14.2 million plus an estimated $3 million for Cliffs Notes’ working capital when the transaction closes. “Cliffs Notes, like Dummies, is part of Americana,” said Steven Berkowitz, IDG’s president. “Cliffs Notes is a natural fit with our strategy of making learning enjoyable, accessible and affordable in both print and online formats.” Foster City-based IDG publishes more than 700 business, technology and consumer self-help books. Cliffs Notes, founded by Cliff Hillegass in 1958, has about 300 reference titles in print that summarize plots and offer brief commentary on novels, plays and other literature. IDG shares fell 13 cents to close at $14.38 on Nasdaq.