WEST CONSHOHOCKEN, PA--(Marketwire - May 5, 2010) - The founders of Infinity Publishing, one of the original self-publishing companies in the U.S. and a pioneer in the category of author-originated book publishing, today announced they have signed an equity agreement with an investment group that will provide the company with access to greater capital in order to increase its publishing services for authors in the fastest-growing segment of the book publishing industry.
According to Tom Gregory, founder of Infinity Publishing, the company completed a private transaction with a Boston-based investment group led by Arthur Gutch and New Harbour Partners LLC. Gutch has now assumed the position of chief executive officer. Terms of the transaction were not disclosed.
"This agreement is an important step forward for Infinity Publishing, as it provides the company with deeper financial resources and broader management support in order to execute on the extraordinary business opportunities that lie in front of us right now," said Gregory, who will remain on board at Infinity as a special consultant to the company. Mark Gregory will also remain with the company as vice president of the digital print division at Infinity.
Infinity Publishing was founded in 1997 by Tom Gregory, a widely respected innovator in the print on demand and publishing industry. The company went on to blaze a distinct trail in the book publishing industry, revolutionizing the category of self-publishing by providing "author-originated book publishing" services to both published authors and aspiring writers. Infinity now has more than 4,000 active authors who have collectively published more than 6,000 titles with the company.
"Infinity's unique approach to author-originated book publishing is rooted in cooperative efforts mutually benefiting the authors and the publisher," said Gutch, who has more than 20 years of experience building technology and service-based businesses. "We were attracted to the opportunity of partnering with the company's founders because of their reputation in the industry and the innovative nature of Infinity's business model. Infinity's flexible and cost effective book publishing platform is grounded in simplicity, but with a comprehensive set of services that are well suited for both previously published and aspiring authors."
According to Gutch, authors pay a one-time setup fee of $499 in order to have their digital book files added into Infinity's book publishing system. Authors retain all rights to their books and have total creative control over the content and all other aspects of their books during the publishing process, while Infinity manages the time consuming back-office services such as fulfillment, royalty management and accepting returns from bookstores.
About Infinity Publishing
Infinity Publishing's industry leading, author-originated book publishing method puts authors in control of the publishing process to carry out their unique vision for their book. Infinity's authors retain all rights to their books, earn royalties paid monthly, and benefit from an extensive distribution network that is backed-up by Infinity's generous bookstore return policy. The company's unique print on demand book publishing platform was designed to support all authors with a story to tell, who have ever thought about writing a book, or who have been on an endless journey to find an agent or book publisher. For more information, please go to www.infinitypublishing.com.
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