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.
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.
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".
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".
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.
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.
publishing services are estimated to be a $4.5 billion
market, of which only $200 million is being outsourced
by India. As more publishers look for the introduction
of cost reduction and more technology into the publishing
supply chain, India is poised to capture an increasing
share. The vendor landscape in India is fragmented with
a number of small players offering data conversion services
and larger players providing the whole gamut of services
including project management, editorial services, design
and composition services.
currently has a headcount of 150, including 25 in the
States and in line with its business plans the company
plans to increase the headcount to 350 next fiscal.
Its production facilities are housed in a 10,000-square-foot
facility in Chennai.