Penguin owner buys Author Solutions

Penguin books owner Pearson took a big step into the fast-growing world of self-publishing on Thursday by buying Author Solutions Inc (ASI) from Bertram Capital for $116 million.

Penguin books owner Pearson took a big step into the fast-growing world of self-publishing on Thursday by buying Author Solutions Inc (ASI) from Bertram Capital for $116 million.

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Pearson said the deal gave it a leading position in a sector that has entered the mainstream in the last three years.

Authors are increasingly choosing to bypass traditional publishers by releasing and marketing their own titles, helped by the growth of e-readers and tablet computers and print-on-demand technology.