Hachette Book Group agreed to buy Perseus Books, a trade publisher, in a deal that strengthens the company’s nonfiction portfolio with a business that produces about 700 new titles a year.
As part of the deal, Hachette will sell Perseus’s client services business to Ingram Content Group, according to a statement from the companies today. Financial terms weren’t revealed.
Hachette Book Group, which has been battling Amazon.com Inc. over e-book pricing, plans to make Perseus a major publishing division of the company, comprising nine imprints, including Avalon Books, Basic Books and Da Capo Press. The deal also gives Hachette partnerships with The Daily Beast, The Economist, The Nation Institute and The Weinstein Co.
Hachette Book Group, owner of Little Brown & Co., is part of Paris-based Hachette Livre SA, the world’s third largest trade and educational publisher, according to the company.