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French digital and print content management company, USD 150 million Jouve group has announced the acquisition of the Chennai-based outsourcing firm TexTech for USD 5.4 million and said it will shift a part of its Madagascar operations to India.“As a de-risk strategy and to avoid disruption in our services to our customers, we plan to shift the English language publishing work from Madagascar to our Indian subsidiary TexTech,” said Pierre Vincent Debatte, chief executive of the French firm.
TexTech specialises in publishing services for books and e-books and has some 270 people working for it here. The Jouve group intends to add some 100 more people into the Indian company, which logged a revenue of USD3.7 million last year.
The acquisition is also expected to strengthen Jouves North America operations and provide the Group with a foothold in the US trade and learning publishing markets.
Jouve Group President and CEO Pierre-Vincent Debatte says that the takeover is part of its strategy to become a global player with a strong local presence, serving the content creation, production, distribution and reusability needs of its customers.
TexTech CEO AVR Venkatesa expected the merger to benefit the firm in terms of expertise in content workflows and growth capital. It is in the process of scaling up operations and infrastructure in India, the US and the UK
Jouve Group Vice-President, Editorial and Publishing Services Director Patrick Simon said "Our customers are migrating towards a content-centric workflow strategy, Jouves goal is to become their partner of choice, providing professional publishing services and a technology platform that makes the vision of a multipurposed content a reality."
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