1 November 2016, India :
US-based e-commerce giant Amazon today said it is acquiring the publishing business of Tata-owned Westland for Rs. 39.80 crore. It previosuly acquired 26% stake of the Chennai-based book publishing company owned by Tata group in February this year.
“In just three years we have built India’s largest online store that customers can trust to find, discover and buy anything online. Our acquisition of Westland continues our commitment to India—enabling Amazon to bring Westland’s highly talented authors and their books to even more customers in India and around the world,” said Amit Agarwal, vice-president and country manager at Amazon India.
“Our acquisition of Westland continues our commitment to India, enabling Amazon to bring Westland’s highly talented authors and their books to even more customers in India and around the world,” added Agarwal.
“This is a great day for our authors and their readers across the globe,” said Gautam Padmanabhan, CEO of Westland. “Amazon’s roots are in books and we are excited to be part of that team in the next phase of our journey.” Source- Livemint / Image- Bloomberg