In a significant move to bolster its position in the global digital publishing technology sector, Lumina Datamatics Limited, a wholly-owned subsidiary of Datamatics Global Services Limited, has announced the acquisition of TNQ Tech Private Limited (TNQTech). The definitive agreements, including the Share Purchase Agreement and Shareholders Agreement, were signed on December 9, 2024, marking a strategic step towards expansion.
Acquisition Details
TNQTech, a Chennai-based digital publishing and pre-press services company, is renowned for its quality, efficiency, and innovative technology solutions in the scientific, technical, and medical (STM) publishing space. The acquisition involves purchasing 100% stake in TNQTech from its existing shareholders in two tranches:
- 80% stake to be acquired in the first tranche by December 31, 2024, for a consideration of ₹336 crore.
- The remaining 20% stake will be acquired by July 31, 2026, with the price determined based on financial performance metrics, including EBITDA for the fiscal year ending March 31, 2026.
The acquisition is a cash transaction, split across the two phases, and will see TNQTech become a step-down subsidiary of Datamatics Global Services Limited.