Open Road buys E-Reads

Open Road buys E-Reads

E-book publisher Open Road Integrated Media has acquired fellow digital publisher E-Reads.

Chris Davis, Open Road c.o.o, led the negotiations on behalf of Open Road. Terms of the deal have not been disclosed.

E-Reads has a catalogue of over 1,200 titles, with a focus on the science fiction and fantasy genre. These books will now be published by Open Road and marketed through the company’s proprietary platform. E-Reads founder Richard Curtis will consult with Open Road during the transition.
 
Curtis explained the move, saying: “E-Reads has proven to be as successful as I envisioned when I founded the company in 1999. However, as I recently surveyed the state of the industry, it became apparent that it was time to seek an alliance with a company with greater resources, particularly in the all-important area of marketing. I am confident that Open Road will afford all of our books the best opportunity to realise their full potential in a competitive, ever-changing, and increasingly crowded marketplace, and I look forward to playing a role in the integration of these two great firms.”

Open Road cofounder and c.e.o Jane Friedman added: “E-Reads is one of the publishing industry’s pioneering companies, and it shares Open Road’s passion for the digital future. Richard Curtis has built an incredible catalogue filled with beloved and bestselling authors, and we are excited to welcome them to the Open Road family as we bring all of our resources to connecting them with readers around the world.”

E-Reads was founded by Curtis in 1999. Open Road, co-founded by former HarperCollins worldwide c.e.o. Jane Friedman in 2009, published its first e-book in 2010 and has since grown  to publish 4,000 titles. It launched as a literary publisher and has since expanded into additional genres including science fiction and fantasy, mystery and romance, among many others. Last year, it secured $11m of additional funding.

The deal is expected to close on 1st April. After the closing, the E-Reads website will be taken down and its titles will be featured on Open Road’s website.