Haynes publishing known for their car manuals has been snapped up by a French firm three months after being put up for sale.
French media company Infopro Digital have agreed to pay £114.5m placing the business into foreign ownership for the first time in 60-years.
Shareholders will be paid 700p for every share they own, however, a vote will take place in the next couple of months.
Founder John Haynes launched his first manual in 1966 for the Austin Healey Sprite selling all 3,000 copies in just three months.
Founder and chief executive of Infopro Digital, Christophe Czajka said, “long respected Haynes’ spirit of innovation and its reputation for excellence”.
He added, “With a deeply complementary product set and geographic footprint, the combined companies have an opportunity to serve our clients more effectively and to build on both organisations’ history of creating innovative, transformative products that the automotive industry has come to value.
“We are committed to working together to create a company that will continue to help define the future of automotive data.”
Eddie Bell, chairman of Haynes said, “The Haynes board believes that the markets it serves have great potential for Haynes’ future growth and development, and that a combination with Infopro Digital will provide Haynes with the scale, capabilities and resources to ensure that it stays at the forefront of these markets and maximises its potential.”