Press Releases » Business Wire IndiaPosted at: Dec 9 2024 5:16PM Lumina Datamatics to Acquire Controlling Stake in TNQTech
Business Wire IndiaLumina 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. Its 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, 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."
Disclaimer: This is syndicated feed from PR agency and any legal liability for the content is theirs only.