Penguin Parent Buys iUniverse Owner

Pearson, parent company of Big Six publishing company Penguin, acquired self-publishing company Author Solutions Inc. (ASI) from private equity firm Bertram Capital for $116 million in cash. The five year old company is better known by its brand names iUniverse and Xlibris, under which it has published about 190,000 print and electronic books so far by about 150,000 authors. The company has grown at approximately 12 percent for the past three years; in 2011, it made about $100 million in revenues.

Full article

Syndicate content