TexTech acquires US company Startford Publishing

19 December 2006

Chennai: In a case of a service provider acquiring its client, the Chennai-based TexTech International Private Limited has acquired the US-based Stratford Publishing Services (Brattleboro, Vermont) and the Stratford brand for 0.5 million. Following the acquisition, TexTech has become a $3million company and one of the larger players in the knowledge process outsourcing (KPO) vertical in publishing, with projected revenue of $5 million for the year 2007-08.

TexTech, promoted by Multivista Global Limited, a $20 million Chennai-based printing house is less than 18 months old and has already established a customer base across four continents: America (United States), Europe (United Kingdom), Australia, and Asia (India). Its customers now include the world's largest publishers of higher-education, school, and trade books.

Addressing the media, TexTech's CEO AVR Venkatesa, said, "As the industry consolidates, the Stratford acquisition gives us a strong sales and marketing presence in the largest market. Our hybrid delivery model, which combines more than 20 years of book production experience in the US with the talented workforce in India, gives our customers high quality at lower cost".

He further added "We aim to become one of the largest publishing services companies in India through both organic and inorganic growth. We see strong growth in all our customer geographies and segments".

Recently, TexTech was awarded a significant contract by one of the largest US college textbook publishers to provide programme management and quality assurance services for their next-generation custom publishing business.

Commenting on the merger, James E. Bristol, erstwhile owner of Stratford and now a stakeholder in TexTech, said, "Our customers clearly wanted us to be global and the merger with TexTech gives us an opportunity to be a leader in our markets.