Another Cybermedia over-seas acquisition

Following through on IPO time promises to invest over-seas as well as in India, Cybermedia's Pradeep Gupta has announced another deal with the acquisition of 49% of US-based publishing services firm PSI. Clients of the Champaign, Illinois-based company include McGraw-Hill, Cambridge University Press, Harvard University Press, Elsevier Science, John Wiley & Sons, and Oxford University Press.

Cybermedia says the acquisition will provide "access to a strong client base and team of experienced US-based professionals for growing its high potential content outsourcing business". It goes on to note that "according to industry estimates, the global opportunity for publishing outsourcing is estimated at US$ 8.2bn. The Indian market for publishing outsourcing is expected to grow at a CAGR of 38% from US$ 200mn in 2005 to US$ 1.1bn by 2010, driven by availability of trained workforce proficient in English language and publishing, offering high quality at competitive prices".