Financial Daily from THE HINDU group of publications
Friday, Jun 24, 2005
Financial Daily from THE HINDU group of publications Friday, Jun 24, 2005 |
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Corporate
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Mergers & Acquisitions Macmillan India buys Charon Tec Our Bureau
Chennai , June 23 MACMILLAN India Ltd, which provides typesetting and back-office services to publishers globally, has acquired the Chennai-based Charon Tec Pvt Ltd. Charon Tec, which provides typesetting services to book publishers in Europe and the US, has Rs 8 crore turnover and 290 employees. Mr Rajiv Beri, Managing Director, Macmillan India, told Business Line that the company was interested in the built-up capacity of Charon Tec. With the current acquisition, the company aims to become a major global player in publishing services. According to a company press release, the transaction was an all-cash deal for an undisclosed sum. The acquisition is expected to reflect in Macmillan India's top line from 2006 and contribute around $3 million in sales next year, the release said.
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