Macmillan India acquires 100 pc in Interactive Composition Corp

New Delhi, Mar 8 (UNI) Macmillan India announced today acqusition of 100 per cent shares of Interactive Composition Corp (ICC), a company based in the United States.

Macmillan will be signing definitive agreements for purchase of the company at a consideration of around Rs 15 crore, a release from Macmillan said.

Rajiv Beri, MD, Macmillan India, said ''This is a strategic acquisition as it enables us to achieve two major objectives of having a significant presence in the US, and acquiring premier US book publishing customers. It also places us in the big league of full service providers in the book publishing market.'' Commenting on the acquisition, Scott Johnson, President ICC (US) said, ''We are sure that the financial and technology strengths of MIL and the market knowledge of ICC will combine to make us the leading players in the US. We are truly excited and optimistic about our future prospects''.

Macmillan India is a leading provider of typesetting, copyediting, project management, digitising, graphics, software and technology services to major publishers in UK, Europe and the US.

ICC has a wholly-owned subsidiary in Delhi which employs 300 staff and provides high quality typesetting and other services to major book publishers in the US.

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