NEW YORK, July 19, 2012: Pearson plc, the world's leading learning company, today announced the acquisition of Author Solutions, Inc. (ASI), a premier provider of self-publishing services.
Pearson agreed to acquire Bloomington, IN-based ASI from San Mateo, Calif.-based private equity firm Bertram Capital Management LLC for $116 million in cash. ASI has enabled 150,000 authors to write, market and distribute more than 190,000 books in print and electronic formats since its 2007 inception. The acquisition gives Pearson a preeminent position in the rapidly expanding self-publishing industry. ASI, with approximately 1,600 employees located primarily in Bloomington and Cebu City, the Philippines, generated roughly $100 million in 2011 revenue.
Morgan Lewis served as legal advisor to Pearson on the transaction. The Morgan Lewis deal team was led by Business & Finance partner Robert Dickey and Business & Finance associates Priscilla McCalley and Karl Goodman and included partners Ron Dreben (Intellectual Property), Richard Zarin (Tax), Gary Rothstein (Employee Benefits) and associates Eric Sarabia (Employee Benefits) and Daniel Marks (Intellectual Property).
For more information, please see the company's press release.