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Waterstones is a British bookseller based in London, founded in 1982 by Tim Waterstone. The chain expanded quickly before being sold to WHSmith in 1993, then passed to a consortium and later to HMV, which merged the Dillons and Ottakar's shops into it; it now belongs to the American investment group Elliott Investment Management. It runs 316 shops, mainly in the United Kingdom but also in Ireland, Belgium and the Netherlands, and employs more than 3,600 people. An average branch stocks around 30,000 different books.