Jouve group, a European service provider specialising in digital and print content management and publishing services, has announced the acquisition of the Chennai based TexTech International along with its U.S. subsidiary, TexTech inc, engaged in publishing services for books and eBooks.
Addressing presspersons here on Tuesday, Pierre-Vincent Debatte, President and CEO of Jouve group, said the acquisition was part of Jouve's strategy to become a global player with a strong local presence. AVR Venkatesa, CEO of TexTech, said the buy-out would provide deep expertise in content workflows and growth capital to TexTech for scaling up its operations and infrastructure. The cost of acquisition was Rs. 25 crore for buying 100 per cent equity, he said.
According to Patrick Simon, Vice-President, Editorial, and Publishing Services Director of Jouve group, customers of the group are migrating towards a content-centric workflow strategy and Jouve's goal is to become their partner of choice, providing professional publishing services. The acquisition would strengthen Jouve's North America operations and provide it with a significant foothold in the U.S. trade and learning publishing markets, he said.
Founded in 1903, Jouve has 1,300 employees on its roll with offices in Europe, the U.S., Senegal and China.