Date:19/03/2008 URL: http://www.thehindu.com/2008/03/19/stories/2008031960462100.htm

Business

PreMedia, GGS deal completed

Staff Correspondent

CHENNAI: PreMedia Global Inc., a KPO (knowledge process outsourcing) firm focussed on content services for the publishing industry, has completed the acquisition of GGS Book Services, a division of GGS Information Services Inc.

Addressing a press conference here on Tuesday, Kapil Viswanathan, Co-Chief Executive Officer, PreMedia Global, said the acquisition neatly ties in with PreMedia’s business model as a one-stop-shop for all content-related services. The two companies would continue to operate independently for the near future and PreMedia would have the rights to use the GGS name and logo for an extended period.

Action plan

Mr. Viswanathan said an internal taskforce, comprising senior executives from both the companies, would evaluate the areas of synergy between the two companies, and recommend an action plan to integrate over the next six months.

He said with this acquisition, PreMedia would takeover GGS. The current staff strength of PreMedia was 1,000 employees spread across seven locations. It planned to expand its Chennai operations with a new facility in Ascendas IT Park with a capacity to seat 750 people over three shifts.