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Cambridge University Press {CUP), the oldest printing and publishing house in the world, has announced its acquisition of 51% equity stake in New Delhi-based Foundation Books Pvt Ltd and its divisions Foundation Media and Foundation e-learning. The combined entity would be known as Cambridge University Press India Pvt Ltd. CUP is one the largest academic and educational publishers in the world and is sold in more than 20 countries. It is committed to the South Asian market and this partnership will fund product development and will entail considerable investments in technology, services and people. The acquisition will also see a significant increase in the number of publishing projects and titles.
Manas Saikia, managing director, CUP India Pvt Ltd, said: “The investment and management resources available through Cambridge University Press’ strategic stake will enable Foundation Books to build further on its already strong position in educational and academic sectors.” Foundation Books Pvt Ltd, CUP’s strategic partner, looks after CUP’s interests in South Asia.
This new entity would also help Indian authors gain a wider audience globally as other Cambridge offices worldwide will now distribute books published in India. Also Indian students would now gain access to superior quality textbooks and journals in different academic and educational subjects.
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