Penguin Putnam, Lightning Source Enter into Strategic Alliance

Posted on August 23, 2000

Penguin Putnam Inc. and Lightning Source Inc. have announced a strategic alliance. Under terms of the agreement, Lightning Source will provide Penguin Putnam with digital fulfillment services including digital file conversion, digital rights management and secure eBook delivery to multiple devices. Penguin Putnam will utilize the services for frontlist and backlist titles.

Penguin Putnam CEO and President Phyllis Grann stated, ``Recent technological innovations have provided Penguin Putnam, and the industry as a whole, new and exciting growth opportunities. Our agreement with Lightning Source, a leader in digital fulfillment, is another step for us in achieving our strategy -- to provide our author's works to customers in any format that is copyright protected, user friendly and commercially viable.''

``We are very pleased to be working closely with Penguin Putnam, a leading U.S. adult and children's publisher with an extensive array of bestselling frontlist and backlist titles,'' said Lightning Source President & CEO Ed Marino. He added, ``Our ability to help Penguin Putnam digitize its titles, while simultaneously protecting the security interests of its authors, will be a key element of our ongoing relationship with them.''