Jul 19 2012
In the first significant investment by a major trade publisher in self-publishing, Pearson announced Thursday morning that it has acquired self-publishing service Author Solutions from Bertram Capital for $116 million in cash (or a little more than one times sales). ASI, formed in 2007 from the merging of iUniverse, AuthorHouse, and other related self-publishing services, was put up for sale earlier this year.
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