Bertram Capital

In a bid to take a leading position in the growing self-publishing market, Penguin has acquired self-publishing platform Author Solutions from Bertram Capital, a San Mateo, Calif.-based venture-capital and private-equity firm, for $116 million.

The acquisition comes less than a year after Penguin launched its own self-publishing platform, Book Country, and at a time when self-publishing firms are jockeying for favor with authors by offering new features and lower prices. A company statement about the acquisition did not mention Book Country.

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