The Hindu Business Line : PreMedia buys GGS Book

Fourth buy: (From left) Ms. Kami Narayan, Co-CEO, PreMedia Global; Mr Kapil Viswanathan, Co-CEO; and Mr Joe Aliason, Managing Director, GGS India; at a press conference in Chennai on Tuesday. –

Our Bureau

Chennai, March 18 PreMedia Global, a Chennai-based knowledge process outsourcing company, has acquired GGS Book Services, a division of GGS Information Services Inc (US), for an undisclosed amount.

This is the fourth acquisition done by PreMedia in the last 18 months. In January, the company raised Rs 72 crore in equity financing from JM Financial India for overseas acquisitions. A portion of this amount was used to acquire GGS Book, which has a turnover of Rs 80 crore and employs around 300 people both in the US and India, Mr Kapil Viswanathan, Co-CEO, PreMedia Global, told newspersons.

End-to-end services

Mr Viswanathan said the acquisition positions the company as a major player in the education publishing services industry. PreMedia will be able to provide end-to-end services in design, development and product to each of the four big publishers — Thomson/Cengage, Pearson, McGraw-Hill and Houghton-Mifflin/Harcourt.

PreMedia has a revenue of Rs 150 crore and employs around 1,000 people both in the US and India. Both PreMedia and GGS Book will continue to operate independently for the near future. However, PreMedia will have the rights to continue using the GGS name and logo for an extended period of time, he said.

Mr Viswanathan said the company plans to enter new market segments such as magazines, yellow pages and corporate brochures.

At present, the company is involved right from the ‘author manuscript to print ready file,’ and also publishing school textbooks in the US, he said.

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