Cambridge Univ Press buys Indian publishing firm
Cambridge University Press (CUP) has acquired a majority stake in Delhi-based publishing company Foundation Books.
CUP, the oldest printing and publishing house in the world, has acquired 51% equity stake in Foundation Books investing 2.5 million pounds(Rs 21 crore).
The entity has been renamed Cambridge University Press India, Stephen Bourne, chief executive of CUP and president of the new entity said.
An arm of the famed Cambridge University, CUP will produce about 500 titles a year through the Indian arm at present, which would add to the 2,500 titles being published by CUP this year, Bourne said.
"CUP India will become a base for publishing educational materials for many countries in Asia and elsewhere," he said after announcing the opening of a new office and a showroom of CUP India at Kolkata.
Apart from bringing out books under the CUP India banner, titles would also be published under the name of Foundation Books, the Indian arm’s managing director Manas Saikia said.
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