Pearson buys self-publisher

PEARSON, the owner of Penguin Books, yesterday announced the purchase of self-publishing firm Author Solutions Inc (ASI) for $116m (£73.8m) in cash.

ASI has around 1,600 employees based mainly in the US and Philippines. Pearson said the unit has revenues of around $100m and has helped release 190,000 books.

“This acquisition will allow Penguin to participate fully in perhaps the fastest-growing area of the publishing economy,” said Penguin chief executive John Makinson.