Lumina Datamatics Signs Agreement to Acquire TNQ Tech for Rs 336 Crore

Lumina Datamatics has announced a definitive agreement to fully acquire TNQ Tech, a digital publishing technology firm based in Chennai. The acquisition will occur in two phases: 80% by December 31, 2024, and the remaining 20% by July 31, 2026, as stated by MD and CEO Sameer Kanodia. The initial phase will cost Rs 336 crore, with the second phase's price linked to future EBITDA metrics.

Representative image

Strengthening Global Presence

This acquisition will expand Lumina Datamatics' workforce to over 6,500 employees worldwide, positioning it as a leading service provider in digital content. Following the acquisition, TNQ Tech will become a stepdown subsidiary of Datamatics Global Services, according to regulatory filings. Lumina Datamatics is already a subsidiary of Datamatics Global Services.

Enhancing AI-Enabled Offerings

Kanodia highlighted that this acquisition will bolster Lumina Datamatics' AI-enabled technology and product offerings. "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 learned societies, associations, and university presses, and through them, by millions of authors," he said.

The strategic move aims to enhance Lumina Datamatics' technological capabilities and market reach. By integrating TNQ Tech's expertise, the company plans to offer advanced solutions to its clients in the publishing industry. This acquisition reflects Lumina Datamatics' commitment to innovation and growth in digital publishing technology.