Datamatics Global Services Limited announced on December 9 that its subsidiary Lumina Datamatics will acquire 100 per cent of TNQ Tech Private Limited, a Chennai-based digital publishing technology company.
The acquisition is expected to be completed in two tranches, with 80 per cent stake purchased by December 31, 2024, and the remaining 20 per cent by July 31, 2026, according to a press release.
The shares of Datamatics Global Services Limited closed at ₹641.90 up by ₹15.55 or 2.48 per cent on the NSE today.
The first tranche will cost ₹336 crores, with the second tranche’s price determined by future EBITDA metrics.
TNQ Tech, incorporated in March 2023, has an impressive annual turnover of ₹289.49 crore for the period from October 2023 to September 2024, the release said.
The strategic move aims to expand Datamatics’ digital content capabilities, potentially increasing the company’s global workforce to over 6,500 employees.
TNQ Tech is known for its innovative publishing technology, holding several patents and serving international publishers in scientific, technology, and medical domains, the release added.
Post-acquisition, TNQ Tech will become a step-down subsidiary of Datamatics Global Services Limited.
The company operates across India, Europe, and North America, providing pre-press publishing, design, and software development services.
The acquisition is subject to fulfilling terms specified in the definitive agreements signed today.
