Lumina Datamatics Acquires Controlling Stake in TNQTech: A Strategic Move in AI-Driven Publishing Technology

Lumina Datamatics to acquire controlling stake in TNQTech for Rs 336 crore

Lumina Datamatics, a leading Mumbai-based global services provider of digital Content Services, Retail Support Services, and Technology Solutions to global companies in the publishing and retail industries, has signed a definitive agreement on December 9, 2024, to acquire a controlling stake in TNQTech, a Chennai-based publishing technology and services company renowned for quality, efficiency, and innovation. TNQTech empowers scholarly publishers with AI-enabled technology for efficient publishing processes and offers end-to-end services for scholarly content. The company is trusted by commercial and open access publishers and learned societies across Europe and North America. It's innovative approach to publishing and content technology, combined with a strong focus on technological advancements, has led to several patents for its products. Commenting on the acquisition, Sameer Kanodia, Managing Director & CEO, Lumina Datamatics, said: 'We are excited to welcome TNQTech to the Lumina Datamatics family. This acquisition will collectively strengthen us to over 6,500 employees globally and establish us amongst the dominant service providers in the world of digital content. It aligns perfectly with our growth strategy of expanding our capabilities in being part of the future of publishing content and technology as we continue to stay ahead in the ever-changing publishing landscape." He added; "In combination with our existing capabilities at the forefront of content workflows by managing the entire publishing process - from content creation to product delivery - this acquisition will enable us to strengthen our suite of AI-enabled technology and products which are used by some of the largest commercial publishers, prestigious learned societies, associations, and university presses, and through them, by millions of authors." Mariam Ram, Managing Director, TNQTech, said, "We are excited to be part of Lumina Datamatics. We look forward to taking advantage of the synergies that will result from the collaboration between TNQTech and Lumina Datamatics. We will benefit from Lumina Datamatics' rich experience of working with global enterprise customers, and their broad range of publishing and technology solutions. We see a clear alignment with TNQTech's offerings in these areas. We look forward to sharing our expertise and our suite of products, our deep domain knowledge, our use of AI/ML models and data-driven intelligence, all of which serve to make the process of scholarly publishing simpler, faster, and smarter. We look forward to Lumina Datamatics serving as a platform for our combined growth." About Lumina Datamatics Lumina Datamatics is a trusted partner in providing digital Content Services, Retail Support Services, and Technology Solutions to companies in the Publishing and Retail Industries worldwide. We are among the largest service providers in the Content space and our customers include eight of the ten largest Publishers and three of the five largest Retailers and Marketplaces. Lumina Datamatics' expert solutions combine its various in-house and client-facing platforms, partnerships with global technology leaders, and more than 4,000 professionals across the United States, the United Kingdom, Germany, Philippines, and India. Deloitte Touche Tohmatsu India LLP acted as exclusive M&A financial advisor to Lumina Datamatics. ICICI Securities acted as exclusive financial advisor to the shareholders of TNQTech. Please click here to access detailed information on the stake percentage, acquisition terms, associated costs, and other relevant statistical data pertaining to the acquisition.

Lumina Datamatics to acquire controlling stake in TNQTech for Rs 336 crore

Lumina Datamatics has acquired a controlling stake in TNQTech for ₹336 crore. This acquisition expands Lumina Datamatics' workforce to over 6,500 employees globally and strengthens its position in digital content services. The deal combines Lumina Datamatics' content workflow expertise with TNQTech's AI-driven publishing technology, benefiting publishers, societies, and authors.Lumina Datamatics, a Mumbai-based global leader in digital content services, retail support services, and technology solutions for the publishing and retail industries, has signed a definitive agreement to acquire a controlling stake in Chennai-based TNQTech for ₹336 crore. TNQTech supports scholarly publishers with AI-driven technology to streamline publishing processes and offers end-to-end services for scholarly content. Trusted by commercial and open-access publishers, as well as learnt societies across Europe and North America, TNQTech's innovative approach to publishing and content technology has earned it multiple product patents, highlighting its commitment to advancements in the industry. Sameer Kanodia, MD & CEO of Lumina Datamatics, said, "This acquisition will strengthen us with over 6,500 employees globally and position us among the dominant service providers in digital content. It aligns with our growth strategy to expand capabilities in publishing content and technology, ensuring we stay ahead in the evolving publishing landscape." He added, "In combination with our existing capabilities at the forefront of content workflows by managing the entire publishing process -- from content creation to product delivery -- this acquisition will enable us to strengthen our suite of AI-enabled technology and products, which are used by some of the largest commercial publishers, prestigious learnt societies, associations, and university presses, and through them, by millions of authors." Mariam Ram, Managing Director of TNQTech, added, "We look forward to taking advantage of the synergies that will result from the collaboration between TNQTech and Lumina Datamatics. We will benefit from Lumina Datamatics' rich experience of working with global enterprise customers and their broad range of publishing and technology solutions. We see a clear alignment with TNQTech's offerings in these areas. We look forward to sharing our expertise and our suite of products, our deep domain knowledge, and our use of AI/ML models and data-driven intelligence, all of which serve to make the process of scholarly publishing simpler, faster, and smarter. We look forward to Lumina Datamatics serving as a platform for our combined growth." Deloitte Touche Tohmatsu India LLP acted as the exclusive M&A financial advisor to Lumina Datamatics, while ICICI Securities served as the exclusive financial advisor to TNQTech shareholders.

Lumina Datamatics to acquire controlling stake in TNQTech

MUMBAI, India, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Lumina Datamatics, a leading Mumbai-based global services provider of digital Content Services, Retail Support Services, and Technology Solutions to global companies in the publishing and retail industries, has signed a definitive agreement on December 9, 2024, to acquire a controlling stake in TNQTech, a Chennai-based publishing technology and services company renowned for quality, efficiency, and innovation. TNQTech empowers scholarly publishers with AI-enabled technology for efficient publishing processes and offers end-to-end services for scholarly content. The company is trusted by commercial and open-access publishers and learned societies across Europe and North America. It's innovative approach to publishing and content technology, combined with a strong focus on technological advancements, has led to several patents for its products. Commenting on the acquisition, Sameer Kanodia, Managing Director & CEO, Lumina Datamatics, said, "We are excited to welcome TNQTech to the Lumina Datamatics family. This acquisition will collectively strengthen us to over 6,500 employees globally and establish us amongst the dominant service providers in the world of digital content. It aligns perfectly with our growth strategy of expanding our capabilities in being part of the future of publishing content and technology as we continue to stay ahead in the ever-changing publishing landscape." He added, "In combination with our existing capabilities at the forefront of content workflows by managing the entire publishing process - from content creation to product delivery - this acquisition will enable us to strengthen our suite of AI-enabled technology and products which are used by some of the largest commercial publishers, prestigious learned societies, associations, and university presses, and through them, by millions of authors." Mariam Ram, Managing Director, TNQTech, said, "We are excited to be part of Lumina Datamatics. We look forward to taking advantage of the synergies that will result from the collaboration between TNQTech and Lumina Datamatics. We will benefit from Lumina Datamatics' rich experience of working with global enterprise customers, and their broad range of publishing and technology solutions. We see a clear alignment with TNQTech's offerings in these areas. We look forward to sharing our expertise and our suite of products, our deep domain knowledge, our use of AI/ML models and data-driven intelligence, all of which serve to make the process of scholarly publishing simpler, faster, and smarter. We look forward to Lumina Datamatics serving as a platform for our combined growth." About Lumina Datamatics Lumina Datamatics is a trusted partner in providing digital Content Services, Retail Support Services, and Technology Solutions to companies in the Publishing and Retail Industries worldwide. We are among the largest service providers in the Content space and our customers include eight of the ten largest Publishers and three of the five largest Retailers and Marketplaces. Lumina Datamatics' expert solutions combine its various in-house and client-facing platforms, partnerships with global technology leaders, and more than 4,000 professionals across the United States, the United Kingdom, Germany, Philippines, and India. Deloitte Touche Tohmatsu India LLP acted as exclusive M&A financial advisor to Lumina Datamatics. ICICI Securities acted as exclusive financial advisor to the shareholders of TNQTech. To learn more about Lumina Datamatics, please visit www.luminadatamatics.com. For any media queries, please contact us at [email protected]. Market News and Data brought to you by Benzinga APIs

Lumina Datamatics acquires controlling stake in TNQTech | Media | Campaign India

Following last year's acquisition, Mumbai-based Lumina Datamatics aims to expand further in the publishing and retail sectors with this strategic move. Mumbai-based digital services provider Lumina Datamatics is consolidating its position in the publishing and technology sectors with its acquisition of a controlling stake in Chennai-based TNQTech. The deal, announced on 9 December 2024, involves two tranches. In the first phase, Lumina Datamatics will acquire 80% of TNQTech for INR 336 crore by the end of December 2024. The remaining 20% stake will follow by July 2026, contingent on earnings before interest, taxes, depreciation, and amortisation (EBITDA) and other conditions, according to a stock exchange filing. Deloitte Touche Tohmatsu India LLP acted as the financial advisor to Lumina Datamatics, while ICICI Securities advised TNQTech's shareholders. TNQTech specialises in AI-driven publishing technology and services, catering to commercial and open-access publishers as well as learned societies in Europe and North America. The company reported a turnover of INR 289.49 crore for the fiscal year ending September 2024. Speaking about the acquisition, Sameer Kanodia, managing director and CEO of Lumina Datamatics, said, "This acquisition will collectively strengthen us to over 6,500 employees globally and establish us amongst the dominant service providers in the world of digital content. It aligns perfectly with our growth strategy of expanding our capabilities in being part of the future of publishing content and technology as we continue to stay ahead in the ever-changing publishing landscape." He highlighted that the addition of TNQTech will bolster Lumina Datamatics' existing AI-enabled technology suite. "This acquisition will enable us to strengthen our suite of AI-enabled technology and products. These are used by some of the largest commercial publishers, prestigious learned societies, associations, and university presses, and through them, by millions of authors," he added. Mariam Ram, managing director of TNQTech, expressed optimism about the partnership. "We will benefit from Lumina Datamatics' rich experience of working with global enterprise customers, and their broad range of publishing and technology solutions. We see a clear alignment with TNQTech's offerings in these areas. We look forward to sharing our expertise and our suite of products, our deep domain knowledge, our use of AI/ML models and data-driven intelligence, all of which serve to make the process of scholarly publishing simpler, faster, and smarter," she noted. Lumina Datamatics has steadily grown its footprint in the publishing and retail sectors. The company claims to serve eight of the ten largest global publishers and three of the five largest retailers. Its offerings range from design and composition services to retail branding solutions, including web scraping for counterfeit detection. Earlier this year, Lumina Datamatics expanded its Southeast Asian operations with a new office in the Philippines. It also acquired Chennai-based diacriTech Technologies and its US subsidiary in May 2023, with Nova Capital Advisors advising on that deal. The TNQTech acquisition aligns with this broader expansion strategy, further strengthening Lumina Datamatics' role in digital publishing. While this move enhances the company's market reach and technology portfolio, the integration of TNQTech will be critical in ensuring the deal delivers on its promises. The publishing industry is witnessing rapid technological change, with companies racing to meet the demands of faster and more efficient workflows. The acquisition places Lumina Datamatics in a stronger position to capitalise on these trends backed with its combined workforce of over 6,500 employees. This deal also raises questions about future consolidation in the sector as competitors look to respond to Lumina Datamatics' aggressive expansion. For now, the latter appears set to establish itself as a leading player in the increasingly crowded publishing and content technology market.