M&A
IT services co. Datamatics to acquire digital publishing player TNQ Tech
Lumina Datamatics , a subsidiary of publicly-listed Datamatics Global Services Ltd, will acquire 100% of fellow Chennai-based TNQ Tech Pvt Ltd , a digital publishing outsourcing company.The acquisition is expected to be completed in two tranches, with 80% stake purchased by December 31, 2024, and the rest by July 31, 2026. The first tranche will cost INR 336 crore. The second tranche’s price will be determined by future EBITDA metrics.Post-acquisition, TNQ Tech will become a step-down subsidiary of Datamatics Global Services Ltd.TNQ Tech, incorporated in March 2023, has an annual turnover of INR 289.49 crore for the period from October 2023 to September 2024. It has around 30 customers spread across the US, the UK and Europe. The firm’s customers include Elsevier, Wiley, Wolters Kluwer, SAGE, Royal Society of Chemistry, SAGE, American Chemical Society and Emerald.Lumina Datamatics is present in Europe and also in the US. The company caters to global publishers and e-commerce companies.
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