CyberMedia acquires 49% of US-based Publication Services
New Delhi, Dec 4 (UNI) CyberMedia today announced the acquisition of 49 per cent stake in US-based Publication Services Inc (PSI) for an undisclosed amount.
The company is owner of thirteen publications in the infotech, telecom, consumer electronics and biotech areas in South Asia.
The terms of the deal, carried through the company's wholly-owned US subsidiary, CyberMedia India LLC, also provide for 100 per cent acquisition of holding interest in PSI in three years.
With the acquisition, the company seeks to have access to a strong client base and team of experienced US-based professionals for growing its high potential content outsourcing business.
''Together with PSI we can embark on a faster growth path in addressing the content outsourcing market with a highly experienced and quality driven team. This is the next step in CyberMedia's advent towards going global,'' CyberMedia CMD and CEO Pradeep Gupta said.
PSI also expects to expand its scope of projects to its clients through this tie-up and acquire new clients by providing cost effective content services. CyberMedia has a team of 130 professionals in India with expertise in original content creation, design, typesetting, data conversion, archiving and digital asset management.
PSI CEO William Stout said, ''The alliance combines editorial expertise, project management skills, and the US client base of PSI with cost-competitive, high quality typesetting, graphics, and proofreading skills of CyberMedia.'' PSI, with a 50-member team and FY06 revenue of 2.7 million dollars, provides a wide range of book and document production services for publishers. Its clients include McGraw-Hill, Cambridge University Press, Harvard University Press, Elsevier Science, John Wiley&Sons and Oxford University Press.
CyberMedia Services President Rajeev Seth will manage the partnership on behalf of CyberMedia.
CyberMedia is a media chain including Internet, events and television. The group's media services include market research (IDC India), job board (CyberMedia Dice), content management, multimedia, and media education.
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