Jouve Group has acquired TexTech International Pvt Ltd for $5.4 Mn. Post Acquisition, Jouve will shift a part of its Madagascar based operations to India.

TexTech along with its US subsidiary – TexTech Inc. is engaged in publishing services of books and eBooks. TexTech was founded in 2005 by AVR Venkatesa, who also worked with Time Warner in the US, designing and building large information systems.

TexTech has published books for Pearson Education, Hachette Book Group USA, McGraw Hill, Harvard and American Society for Microbiology among others. TexTech employs about 270 employees in its delivary centers in India and US and had posted a revenue of $3.7 Mn in the last fiscal.

The Jouve Group intends to add 100 more people to TexTech.
France based Jouve Group is into content management. It offers digitization, Image and character recognition, structuring, metadata indexing and content mining services to its clients. It has workforce of 1400 employees and had posted a turnover of $150 Mn for the last fiscal.

This acquisition is a part of the expansion strategy of the group. In May 2007, Jouve acquired Germany based – Libro. It also acquired New York based Publishing Dimensions in 2007.

Publishing Industry in India

India is world's seventh largest book market overall, and third largest for books in English after the US and Britain. 60% of all books published and sold in India are educational books, including textbooks.

An estimated 19,000 books are published in English each year, a figure surpassed only by books in Hindi, an estimated 20,000 a year. A recent recent report by market research firm ValueNotes estimates that the Indian publishing outsourcing industry is expected to grow to a $1.2 Bn annual market by 2012.

Transaction Reference: Hindu Business Line

Previous Article

Sangeetha Mobiles Acquires Wavetel Mobiles

Next Article

Sheth Creators Raises R80Cr From IIFL PE