Datamatics Global Services Ltd said Monday its wholly owned unit Lumina Datamatics Ltd has signed a deal to acquire Chennai-based digital publishing technology and services company TNQ Tech Pvt Ltd.
Lumina will initially buy an 80% stake in TNQ Tech for Rs 336 crore ($39.6 million) and then purchase the remaining 20% in the second stage, Datamatics said in a filing to the stock exchanges.
According to the terms of the transaction, the first tranche will take place before December 31 while the second tranche will be closed before July 31, 2026. The amount for the second tranche will be decided on the basis of the EBITDA multiple applied to the financials of year ended March 31, 2026, and other parameters.
Datamatics said TNQ Tech uses AI-enabled technology to make the publishing process more efficient and offers end-to-end services for content creators. It caters to clients across Europe and North America. TNQ Tech recorded revenue of Rs 289.49 crore for the year from October 2023 till September 2024, according to the filing.
Lumina provides digital content services, retail support services, and technology solutions to the publishing and retail industries. It caters to over 4,000 professionals across the US, the UK, Germany, the Philippines, and India.
Sameer Kanodia, MD and CEO of Lumina Datamatics, said this acquisition will increase the company’s total head count to over 6,500 globally and strengthen the company’s suite of AI-enabled technology and products.
Deloitte Touche Tohmatsu India LLP acted as the exclusive M&A financial advisor to Lumina Datamatics. ICICI Securities acted as the exclusive financial advisor to the shareholders of TNQ Tech.
