Perseus Books Group has reached an agreement to sell its client services business to Ingram Content Group. Terms of the deal were not disclosed.
Ingram, already the world’s largest content distributor, will now own one of its biggest competitors. Perseus employees with join Ingram.
“We are delighted to be welcoming new colleagues from Perseus and publisher clients from Perseus distribution to Ingram Content Group,” stated John Ingram, Chairman and CEO, Ingram Content Group. “Perseus’ distribution companies Publishers Group West (PGW), Consortium, Perseus Distribution and Legato have built strong businesses with solid reputations. We’re pleased about the opportunity to combine them with our own publisher services group, Ingram Publisher Services, to build an even better company for our industry.”
Earlier this week, Perseus revealed plans to sell its publishing business to Hachette Books.
The deals have finally come together after an agreement between the three companies fell apart back in 2014.