Chennai, Feb 23
French digital and print content management company, $150 million Jouve group has announced the acquisition of the Chennai-based outsourcing firm TexTech for $5.4 million and said it will shift a part of its Madagascar operations to India.
"As a de-risk strategy and to avoid disruption in our services to our customers, we plan to shift the English language publishing work from Madagascar to our Indian subsidiary TexTech," said Pierre Vincent Debatte, chief executive of the French firm.
TexTech specialises in publishing services for books and e-books and has some 270 people working for it here. The Jouve group intends to add some 100 more people into the Indian company, which logged a revenue of $3.7 million last year.