Major IT firms Wipro and Infosys Technologies have reportedly dropped out of the race to acquire Scientific Publishing Services (SPS), the Indian arm of the Europe-based publishing group Springer. The two companies have cited high valuation expectations from SPS owners.
A leading premedia and typesetting services provider for STM publishers, SPS is majority owned by scientific and specialist information publisher Springer Science + Business Media, Germany. BPO firms Firstsource Solutions, WNS Global Services and Genpact were among those that were interested in acquiring the firm but the race has now narrowed down only to private equity players.
Founded in 1995, SPS provides end to end services including data conversion, XML solutions, copy editing, typesetting, graphic production and complex e-deliverables. The company employs nearly 1500 people across centres in Chennai and Bangalore in India.
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