Penguin Random House is a company formed from the merger between the book publishers Random House, owned by Bertelsmann, and Penguin Group, owned by Pearson PLC. Penguin Random House markets itself as "the world's first truly global trade book" publisher. It was formed on July 1, 2013, upon the completion of an agreement between Bertelsmann and Pearson to merge their respective trade publishing companies, Random House and Penguin, with the parent companies owning 53% and 47%, respectively.