Lumina Datamatics: Major Stake Acquisition in TNQTech
Deal News | Dec 09, 2024 | Globenewswire
Lumina Datamatics, a prominent Mumbai-based service provider specializing in digital content services, retail support, and technology solutions, has signed a definitive agreement to acquire a controlling stake in TNQTech, a Chennai-based publishing technology firm. The acquisition aligns with Lumina Datamatics' strategic aim of enhancing its publishing content and technology capabilities globally. This move will expand its workforce to over 6,500 employees, bolstering its position as a leading service provider in digital content. TNQTech, known for its AI-driven solutions for scholarly publishing, is set to benefit from Lumina's experience and broad range of offerings, anticipating synergies in innovation and technology. Advisors Deloitte Touche Tohmatsu India LLP and ICICI Securities facilitated this transaction.
Sectors
- Publishing and Digital Content
- Technology and AI Solutions
- Mergers and Acquisitions
Geography
- India – Both Lumina Datamatics and TNQTech are based in India, making it a significant geographical focus for this acquisition.
- Global – Lumina Datamatics operates globally across various countries, affecting international stakeholders in the publishing and retail industries.
Industry
- Publishing and Digital Content – The article centers around companies involved in publishing and digital content services, focusing on technological innovations that drive efficiency in the industry.
- Technology and AI Solutions – TNQTech provides AI-enabled technology solutions for publishing, illustrating the relevance of the technology and artificial intelligence sector.
- Mergers and Acquisitions – The acquisition deal itself falls within the Mergers and Acquisitions industry, emphasizing strategic consolidation.
Financials
- Controlling Stake – Lumina Datamatics is acquiring a controlling stake in TNQTech, meaning it will have significant influence over company decisions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lumina Datamatics | Bidding Company | Company | A Mumbai-based global services provider offering digital content services and technology solutions. |
| TNQTech | Target Company | Company | A Chennai-based company specializing in AI-driven publishing technology solutions. |
| Deloitte Touche Tohmatsu India LLP | Financial Advisor | Company | Advised Lumina Datamatics on the financial aspects of the acquisition. |
| ICICI Securities | Financial Advisor | Company | Advised the shareholders of TNQTech on the financial aspects of the transaction. |
| Sameer Kanodia | Managing Director & CEO | Person | CEO of Lumina Datamatics, speaks about the strategic significance of the acquisition. |
| Mariam Ram | Managing Director | Person | Managing Director of TNQTech, optimistic about the synergies from the acquisition. |