Talking to DNA, Prakash Iyer, managing director, Infomedia India Limited, said, “We are hoping to provide Indian businesses with high-quality content in magazines.”
MUMBAI: Infomedia India Limited, a directory publishing company and online publishing group, has formed a joint venture, Reed Infomedia India Pvt Ltd, with Reed Elsevier Overseas of Netherlands for publishing B2B (business to business) titles Reed Elsevier Overseas is a division of the $8.5 billion Reed Elsevier Group plc.
Talking to DNA, Prakash Iyer, managing director, Infomedia India Limited, said, “With Infomedia’s local industry insights and Reed’s global expertise, we are hoping to provide Indian businesses with high-quality content in magazines that become mandatory reading.”
When asked about the acquisition plans, Iyer said, “The company is in talks with several players in the US and the UK. It is expected to spend Rs 90 crore on acquisitions.” He refused to divulge the names of companies.
According to sources, the company has cash reserves of over Rs 100 crore and it plans to finance the deals through internal accruals. An official said the BPO publishing business was growing at 30% with profit margins of 45%.
Globally, the publishing industry has undergone a spate of mergers, resulting in heavy consolidation and emergence of various publishing giants like Reed Elsevier, Macmillan and Thomson.
James Casella, vice-chairman of Reed Business, said, “The company is looking to combine Reed Business Information’s global brands and vertical industry expertise with the publishing capabilities and local knowledge of Infomedia India to create the pre-eminent portfolio of B2B titles in India.”
Casella said India is a priority market for Reed and India’s growing consumerism and economy has opened up a market for critical business information.
Infomedia India recently changed its ownership as the Tatas sold their stake in the company to ICICI Venture. Apart from yellow pages, Infomedia publishes magazines like Overdrive, Better Photography, IC-CHIP and Better Interiors.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}