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Macmillan Publishing Solutions buys Compset Inc.

Tuesday, March 04, 2008

Press release from the issuing company

BANGALORE March 3 2008 --Macmillan Publishing Solutions (MPS), the outsourcing arm of Macmillan India, Ltd, announced today the acquisition of Compset Inc., a full-service graphics and composition firm with developmental and production expertise in elementary-high school textbooks, higher education, medical reference books, academic and university titles, trade books, and professional journals. Compset Inc. is located in Beverly, Massachusetts.

The acquisition of a U.S.-based production center strengthens MPS' position in the "el-hi" market, which concentrates on instructional materials for elementary and secondary schools. The new production group will accommodate el-hi's growing market needs for solid onshore production services.

"With this acquisition, primarily focused on the el-hi market, we have added a vital piece to our one-stop-shop strategy," said Mr. Rajiv Seth, Chief Executive Officer and Executive Director of MPS. "Additionally, Compset's overall expertise in editorial and production services gives MPS a commanding position in the industry, and we anticipate an immediate impact on our top-line and bottom-line revenues."

Compset is experienced in every el-hi discipline and in every major market segment. Additionally, Compset's large stable of seasoned freelancers, developed over many years, will further enrich MPS's service offerings, including el-hi and college developmental editing, art buying, art program management, project management, translation services, design, production, and XML workflows.

Mr. Robert Moschetto, previously President of Compset, now assumes the role of Vice President, Production Services, of the new East Coast center. He stated the following: "Compset and Macmillan are a perfect fit. MPS brings rich and welcome resources to our existing organization which will permit us to grow and thrive for years to come. With our mutual client base, our onshore presence in the el-hi market can only be welcomed by our customers. We are looking forward to a great future together."

This acquisition will be joined with ICC Macmillan, the wholly owned Portland, Oregon subsidiary of Macmillan India Ltd, which was acquired in early 2006.




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