Will enter new markets; offer digital services across products, mobility and Augmented Virtual Reality
Mumbai, September 21, 2016 —Newgen KnowledgeWorks, a Chennai-based leading provider of publishing and technical services to global publishers, has acquired a majority stake in Pune’s Exult Infosolutions, a company engaged in digital learning solutions, mobility and cloud-based software applications. This acquisition would help Carlyle Group-backed Newgen enter the space of e-learning and mobility across multiple new markets.
With over eight years of experience in consulting and outsourcing services, Exult helps leading global businesses, including Fortune 1000 companies, to achieve training goals by providing customised learning solutions, software application development, mobility solutions, and UI/UX design.
Newgen Founder and CEO Prabhakar Ram said, “We have emerged as a preferred service provider to the $2 billion publishing outsourcing industry. Together with the e-Learning industry, incidentally also valued at $2 billion, these businesses offer fantastic growth opportunities to both Newgen and Exult to cross-sell products and services in each other’s markets. We are confident of a 100% growth within a few years.”
“Since the world of education and publishing is changing very fast, the timing of the acquisition could not have been better. Our partnership with Exult would offer customers significantly improved value propositions – allowing them to experience the entire range of products and services – from traditional publishing to digital services and products across mobility and Augmented Virtual Reality platforms.” he added.
The publishing industry is moving fast into the space of interactivities, multimedia, and cross-media accessibility. Mirroring the global trend, industry experts expect the digital publishing market to grow substantially in India – given the increasing sales of smartphones and tablets that support e-books.
Exult Founders Sandeep Khomne and Saurabh Pangarkar said, “In Newgen, we have identified the perfect partner who brings in immense strategic value to us in the form of global outreach, larger customer portfolio, and service expansion opportunities. We are excited to be a part of Newgen and look forward to the journey ahead.”
Corporate Finance Associates was the advisor to Exult for the deal.
Global alternative asset manager, Carlyle Group LP, had invested $32.8 million in December 2014, to acquire a majority stake in Newgen KnowledgeWorks Pvt Ltd, which caters to the US, the UK and European markets.
About Newgen knowledgeWorks Private Limited
Newgen is a provider of publishing and technical services for books and journals, such as content sourcing, content creation, project management, author liaison, development editing, copyediting, design, artwork and permissions, typesetting/composition, XML creation, ebook delivery, EPUB conversion, bespoke publishing, backlist conversions, mobile app distribution and discoverability solutions. It has production centers in India, UK and US. It has diversified into financial publishing, digital marketing and complex publishing solutions through its subsidiaries. Its UK subsidiary, Spectra offers a SaaS (“Software-as-a-Service”) solution for addressing the publishing and reporting requirements of the fund management/asset management industry. ePagemaker is a digital marketing solutions company specialized to provide end-to-end interactive solutions to clients. GPSL provides, develops and delivers applications and software customized to client requirements to solve complex publishing challenges in various environments such as defense and government.
About Exult Infosolutions Private Limited
Exult is an award winning innovative solutions provider for E-learning, Mobility and Technology. It provides services in the areas of learning solutions, mobility and cloud-based software applications. Exult caters to requirements from a global business portfolio of services comprising HR Consulting, Information Technology, Pharmaceuticals and Healthcare, Financial Services, Manufacturing, BPO, Professional Services, Educational Service Providers and Publishing.
Headquartered in Bavdhan Pune, Exult houses over 150 associates offering expertise in various skills and domains.