Fairfax Publishing Firm Buys Indian Company

["John Mitchell" <jmitchell@techbooks.com>]

The following was an article in the Washington Post dated August 25, 2005
I thought it maybe of interest to list-serv members.

For additional information please contact John Mitchell, Business
Development Representative, TechBooks

Apologies for cross posting

___________________________________________

Fairfax Publishing Firm Buys Indian Company

By Ellen McCarthy
Washington Post Staff Writer
Thursday, August 25, 2005; Page D04

TechBooks, a Fairfax company that helps publishers format and convert
books and reports into digital form, has acquired Maximize Learning, an
online-learning firm based in Pune, India.

Financial terms of the deal were not disclosed, but the purchase will add
more than 400 employees to TechBooks' staff of 2,500.

The acquisition is TechBooks' second big announcement in as many weeks. On
Aug. 17, the privately held firm said it landed a $45 million investment
from American Capital Strategies Ltd. of Bethesda.

TechBooks was founded in 1988 as a publishing company but transformed its
business model soon after. Today the company, which has most of its staff
in New Delhi, provides outsourcing services to other publishers.

For instance, if the publisher of a medical journal wants to create an
online database of past issues, it might tap TechBooks to convert each
issue, code the documents with XML language, add hyperlinks and make the
text searchable.

The company also prepares and formats textbooks and reports -- such as
Securities and Exchange Commission filings -- for both print and online
publication.

Rakesh C. Gupta, TechBooks chief executive, said the purchase of Maximize
Learning broadens the company's menu of online content services. Maximize
creates custom e-learning courses for companies. So if a credit card
company is introducing a new product, it might hire Maximize to develop a
short online course to explain the new product to employees and customers.

The investment from American Capital Strategies is TechBooks' fourth round
of funding. The firm had previously raised a total of $24 million from
various investors. Gupta said the new cash infusion will be used to pay
off some old investors, complete the acquisition of Maximize and look for
other purchases.

John L. Mitchell, Jr.
Business Development Executive
Professional Publishing Group
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www.techbooks.com
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