Bangalore-headquartered publishing services company MPS Ltd, through its American subsidiary MPS North America LLC, has completed the acquisition of the US-based publishing services company TSI Evolve for $1 million, as per a stock marker disclosure.
The acquisition of TSI will help MPS strengthen its presence in North America and enrich its portfolio in the school publishing market and in particular the Reading discipline.
"Additionally, we will leverage the design and composition competencies at TSI. Educational publishers will benefit from a wider range of services and the integration of subject matter expertise with digital learning,” Rahul Arora, CMO, MPS and managing member, MPS North America, said.
As part of the transaction, the employees of TSI have become part of MPS, David Paddick, president of TSI Evolve, said.
TSI Evolve, with offices in Orlando, Florida and Effingham, Illinois, provides full-service editorial, content development, design and illustrations, image research, and production services to the educational publishing market.
Clients of the company include McGraw Hill, Pearson, Triumph Learning, Worth Publishing, HMH and Cengage.
For the financial year 2014, TSI posted revenues of $3.06 million, while it registered a loss of $606,000.
In October last year, MPS acquired US-based Electronic Publishing Services (EPS), a full-service editorial, content creation, art rendering and development, design, research and permissions, and production service provider for an undisclosed amount.
MPS (formerly Macmillan India Ltd) provides content creation, production, transformation and technology services to academic and educational publishers in India, Europe and the US.
The company also offers BPO solutions, including subscription management, journal, magazine and book distribution, content aggregation and data mining, and customer services.
Earlier, it was part of the Macmillan Group, a privately held global publishing firm. However, Delhi-based ADI BPO purchased Macmillan’s stake in MPS in 2011 and currently has management control of the company.
(Edited by Joby Puthuparampil Johnson)