Lumina Datamatics, a Mumbai-based global leader in digital content services, retail support services, and technology solutions for the publishing and retail industries, has signed a definitive agreement to acquire a controlling stake in Chennai-based TNQTech for ₹336 crore.
TNQTech supports scholarly publishers with AI-driven technology to streamline publishing processes and offers end-to-end services for scholarly content. Trusted by commercial and open-access publishers, as well as learnt societies across Europe and North America, TNQTech’s innovative approach to publishing and content technology has earned it multiple product patents, highlighting its commitment to advancements in the industry.
Sameer Kanodia, MD & CEO of Lumina Datamatics, said, “This acquisition will strengthen us with over 6,500 employees globally and position us among the dominant service providers in digital content. It aligns with our growth strategy to expand capabilities in publishing content and technology, ensuring we stay ahead in the evolving publishing landscape.”
He added, “In combination with our existing capabilities at the forefront of content workflows by managing the entire publishing process—from content creation to product delivery—this acquisition will enable us to strengthen our suite of AI-enabled technology and products, which are used by some of the largest commercial publishers, prestigious learnt societies, associations, and university presses, and through them, by millions of authors.”
Mariam Ram, Managing Director of TNQTech, added, “We look forward to taking advantage of the synergies that will result from the collaboration between TNQTech and Lumina Datamatics. We will benefit from Lumina Datamatics’ rich experience of working with global enterprise customers and their broad range of publishing and technology solutions. We see a clear alignment with TNQTech’s offerings in these areas. We look forward to sharing our expertise and our suite of products, our deep domain knowledge, and our use of AI/ML models and data-driven intelligence, all of which serve to make the process of scholarly publishing simpler, faster, and smarter. We look forward to Lumina Datamatics serving as a platform for our combined growth.”
Deloitte Touche Tohmatsu India LLP acted as the exclusive M&A financial advisor to Lumina Datamatics, while ICICI Securities served as the exclusive financial advisor to TNQTech shareholders.
