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Pearson Buys Author Solutions
Posted by Victoria Strauss for Writer Beware
Last March, word went out that self-publishing giant Author Solutions Inc (owner of AuthorHouse, iUniverse, Xlibris, Trafford, WordClay, Palibrio, and several others, and contractor for the self-pub divisions of several major publishers) was looking for a buyer.
Now it has one: Pearson, the parent company of Penguin Group.
According to the official press release, Pearson is paying $116 million in cash for ASI (which, frankly, doesn't seem like all that much, given ASI's dominant position in the self-publishing services market).
Penguin’s chief executive John Makinson said: “Self-publishing has moved into the mainstream of our industry over the past three years. It has provided new outlets for professional writers, a huge increase in the range of books available to readers and an exciting source of content for publishers such as Penguin. No-one has captured this opportunity as successfully as Author Solutions, which has rapidly built a position of world leadership on a platform of outstanding customer support and tailor-made publishing services. This acquisition will allow Penguin to participate fully in perhaps the fastest-growing area of the publishing economy and gain skills in customer acquisition and data analytics that will be vital to our future.”
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Mirrored from SFWA | Comment at SFWA
Last March, word went out that self-publishing giant Author Solutions Inc (owner of AuthorHouse, iUniverse, Xlibris, Trafford, WordClay, Palibrio, and several others, and contractor for the self-pub divisions of several major publishers) was looking for a buyer.
Now it has one: Pearson, the parent company of Penguin Group.
According to the official press release, Pearson is paying $116 million in cash for ASI (which, frankly, doesn't seem like all that much, given ASI's dominant position in the self-publishing services market).
Penguin’s chief executive John Makinson said: “Self-publishing has moved into the mainstream of our industry over the past three years. It has provided new outlets for professional writers, a huge increase in the range of books available to readers and an exciting source of content for publishers such as Penguin. No-one has captured this opportunity as successfully as Author Solutions, which has rapidly built a position of world leadership on a platform of outstanding customer support and tailor-made publishing services. This acquisition will allow Penguin to participate fully in perhaps the fastest-growing area of the publishing economy and gain skills in customer acquisition and data analytics that will be vital to our future.”
Read the rest of this entry »
Mirrored from SFWA | Comment at SFWA