Chennai-based KPO co buys US firm
posted in Outsourcing News and Top Outsourcing deals |Source: www.tradingmarkets.com
Chennai-based Knowledge Process Outsourcing company focussing on content services for the publishing industry, PreMedia Global Inc, today said it has acquired US-based GGS Book Services.
Addressing a press meet here, Kapil Viswanathan, Co-CEO, said GGS Book Services generates Rs 80 crore in turnover and employs around 300 persons worldwide.
While the two companies would continue to operate independently, PreMedia would have the rights to use the GGS name and logo for an extended period of time, he said.
Kapil said an internal taskforce, comprising senior executives from both companies, would evaluate areas of synergy between the two companies and recommend an action plan for integration over the next six months.
PreMedia had earlier completed three Merger & Acquisition transactions over the past 18 months - Beacon Publishing Services in Ohio, Westwords in Utah and Prepress Company Inc in Massachusetts.
The company, in January, raised Rs 72 crore in equity financing from JM Financial India Fund for further overseas acquisitions.
Kapil said PreMedia would be expanding its Chennai operations with a new state-of-the-art facility at the Ascendas IT Park with a capacity to seat 750 persons over three shifts.
