Saturday, May 17

IT biggies, buyout funds join race for BPO firm Aptara

A couple of large buyout funds, foreign strategic players and Indian IT & BPO players, including Infosys Technologies, are learnt to be in the race for Aptara, a third-party BPO in technology publishing. Promoted by US-based Indian, Rakesh Gupta, the firm is one of the oldest and established players in the industry, having started in 1988. No official confirmation was available, but sources said six players have been shortlisted and the sale could be concluded in a couple of weeks. Avendus Advisors is advising the firm on the sale process. The final deal could be around $150 million, a source said. Till recently, known as Techbooks, the company changed its name to Aptara in 2007 to reflect its intent to diversify into services outside its core publishing and content business. One of its earlier investors, PE firm American Capital, is also set to exit the company in the sale, the source said. In its core domain, Aptara counts a few leaders such as Reed Elsevier and Blackwell Publishing among its clients in the niche scientific, technical and medical (STM) publishing business, as well others such as Cambridge University Press, Oxford University Press, McGraw Hill and Wiley.

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