Author Solutions sold to PE firm Najafi Companies
Author Solutions, one of the global self-publishing and on-demand printing services providers based in Cebu, has been sold to an affiliate of private equity firm Najafi Companies for a still undisclosed amount. The terms of the deal were not disclosed although Publishers Weekly reported that the deal closed on 31 December. Author Solutions, which operates an outsourcing center in the Philippines, is a division of Penguin Random House, which acquired Pearson, Author Solution’s parent company, in 2012. Andrew Phillips, CEO of Author Solutions, told Publishers Weekly that the company’s day-to-day operations will not change even after the acquisition. Phillips will continue to run Author Solutions under the new parent company. The buyer, Najafi Companies, once owned Bookspan but sold it in early 2013.
