The world's oldest printing and publishing house, Cambridge University Press, has acquired a 51 per cent equity stake in the New Delhi-based Foundation Books Private Limited and its divisions, Foundation Media and Foundation e-Learning.
Committed to the South Asian market, Cambridge University Press acclaimed for its list of journals, textbooks, monographs and guides in various subjects including medicine, law and literature aims to make considerable investment in technology and services.
According to Cambridge University Press Chief Executive Stephen Bourne, “India has very high standards of education and also a number of colleges and universities. Every year 20,000 new books are published in your country. This is an attractive proposition for us and we want a piece of this huge market. We plan to publish affordable books here. Our global strategy is to publish books locally at affordable prices. Moreover, the books printed here would be exported to Arab and African countries.” Bourne again said: “These days more and more books are also being published online. In fact, technology is creeping into the book publishing industry. Of the 200 journals we publish, 95 per cent are online. We will publish books online here too.”
A department of Cambridge University, Cambridge University Press publishes nearly 2,500 books and over 200 journals every year that are sold in more than 200 countries.