Date:07/03/2006 URL: http://www.thehindubusinessline.com/2006/03/07/stories/2006030704280900.htm

Back Macmillan buys US firm for Rs 15 cr

Our Bureau

Chennai, March 6

The board of Macmillan India Ltd has approved the acquisition of 100 per cent of the shares of the US-based Interactive Composition Corp (ICC) for about Rs 15 crore.

This acquisition is expected to enhance Macmillan's presence in the US market and contribute to increased revenue growth in the North American region, a notice to the BSE said. ICC India has 300 employees while ICC US has 15.