Lumina Datamatics Acquires TNQ Tech to Boost Digital Publishing

Lumina Datamatics has announced its acquisition of TNQ Tech, a digital publishing company based in Chennai. The acquisition will occur in two phases, with an 80% stake purchased by the end of 2024 and the remaining by mid-2026. This strategic move aims to enhance Lumina's AI technology offerings.

Lumina Datamatics has confirmed a binding agreement to acquire Chennai-based digital publishing technology firm TNQ Tech. This expansion is projected to occur in two phases, beginning with an 80% stake acquisition by December 31, 2024, followed by the remaining 20% by July 31, 2026.

The first portion of this acquisition is valued at Rs 336 crore. The pricing for the second phase will be based on future EBITDA performance. This strategic acquisition will augment Lumina Datamatics' employee strength to over 6,500 globally, placing it among the top tier of digital content service providers worldwide.

Following the acquisition, TNQ will operate as a stepdown subsidiary of Datamatics Global Services, with Lumina Datamatics gaining improved AI and technology capabilities. These enhancements are expected to benefit a wide array of clients, including major publishers and academic institutions, through comprehensive content management solutions.

(With inputs from agencies.)