ADVFN - Advanced Financial Network.
HOME» NYSE » P » PSO Stock Price » PSO Stock News

Pearson Share News

 Pearson Stock Price
PSO Stock Price
 Pearson Stock Chart
PSO Stock Chart
 Pearson Stock News
PSO Stock News
 Pearson Company Information
PSO Company Information
 Pearson Stock Trades
PSO Stock Trades

Pearson PLC Acquisition

TIDMPSON RNS Number : 0569I Pearson PLC 19 July 2012 Press release 19 July 2012 PEARSON TO ACQUIRE AUTHOR SOLUTIONS, INC FOR $116m PENGUIN TAKES LEADING POSITION IN FAST-GROWING SELF-PUBLISHING MARKET Pearson, the world's leading learning company, is today announcing the acquisition of Author Solutions, Inc (ASI) from Bertram Capital for $116 million in cash. Formed in 2007, ASI is now the world's leading provider of professional self-publishing services. It has enabled 150,000 authors to publish, market and distribute more than 190,000 books in print and electronic formats and benefits from several powerful growth trends including user-generated content, eBooks and digital publishing and marketing technologies. Self-publishing is a rapidly growing segment of the consumer books market. According to Bowker, 211,000 titles were self-published in 2011 in either print or digital form, an increase of almost 60% on 2010. The self-publishing sector has also become an important source of talent and content for the publishing industry, producing several bestselling authors including Lisa Genova, John Locke, Darcie Chan, Amanda Hocking, Bronnie Ware and E.L. James. The acquisition gives Penguin a leading position in this fast-growing segment of the publishing industry and brings significant opportunity for the two companies to collaborate. Penguin will gain access to ASI's expertise in online marketing, consumer analytics, professional services and user-generated content. ASI will benefit from Penguin's design, editorial and sales skills, and its strong international presence as it looks to expand outside the US. 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." In 2011 Author Solutions generated revenues of approximately $100m, growing at an average annual rate of 12% over the past three years. Its business is split broadly evenly across three key areas: publishing, marketing and distribution services, with revenues generated primarily from services to authors. The company has approximately 1,600 employees, located primarily in Bloomington, Indiana and Cebu City, the Philippines. Pearson will be expensing integration costs relating to Author Solutions in 2012 and expects the acquisition to enhance adjusted earnings per share and to generate a return on invested capital above Pearson's weighted average cost of capital from 2013, its first full year. Author Solutions will be integrated into Penguin's back office and technology infrastructure but will continue to be run as a separate business. Kevin Weiss, Chief Executive of ASI, said: "Over the past 75 years, Penguin has demonstrated a commitment to bold and fresh thinking in the publishing industry. We are thrilled to be a part of its vibrant culture, and look forward to accelerating the pace of change the industry is experiencing. As part of Penguin, we will be on the front-end of that change and have the broadest set of offerings of any publisher today. That means more opportunity for authors and more choice for readers." ENDS For more information: Pearson: Luke Swanson/ Charles Goldsmith/ Simon Mays-Smith +44 (0)20 7010 2310 Penguin UK: Becca Sinclair + 44 (0)20 7010 4279 Penguin US: Erica Glass +1 (212) 366 2951 This information is provided by RNS The company news service from the London Stock Exchange END ACQBKCDPKBKDQOD Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Pearson (PSO)
DateTimeHeadline
09/01/201506:10:53Report of Foreign Issuer (6-k)
08/12/201507:10:36Pearson Sells 50% Stake in the Economist Group -- 3rd Update
08/12/201506:13:01Report of Foreign Issuer (6-k)
08/12/201505:00:06Pearson Sells 50% Stake in Publisher of the Economist
08/12/201503:55:58Pearson Sells 50% Stake in the Economist Group -- 2nd Update
08/12/201503:22:56Pearson Sells 50% Stake in the Economist Group -- Update
08/12/201502:56:29Pearson Sells 50% Stake in the Economist Group
08/05/201508:17:34Report of Foreign Issuer (6-k)
08/03/201513:10:13Report of Foreign Issuer (6-k)
08/03/201511:47:16Report of Foreign Issuer (6-k)
07/30/201509:27:12Report of Foreign Issuer (6-k)
07/29/201512:28:31Correction to Pearson story from July 23
07/27/201507:24:52Report of Foreign Issuer (6-k)
07/27/201506:44:55Report of Foreign Issuer (6-k)
07/27/201503:20:06Pearson in Talks to Sell Economist Stake
07/25/201512:02:09Pearson in Talks to Sell Economist Stake -- Update
07/25/201510:40:05Pearson In Talks to Sell Economist Stake
07/24/201511:40:47Report of Foreign Issuer (6-k)
07/24/201506:42:35Pearson's First Half Hit by Write-Down -- Update
07/24/201503:09:01Pearson 1st Half Hit by Writedown; Backs 2015 Guidance

Pearson and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad