Lumina Datamatics acquires TNQTech stake for $40Mn
MUMBAI, INDIA — Lumina Datamatics, a Mumbai-based provider of digital content services and technology solutions, has announced the acquisition of a controlling stake in Chennai-based TNQTech for ₹336 crore (US$39.6 million).
TNQTech specializes in AI-driven publishing technology and end-to-end services for scholarly content, earning the trust of publishers and societies across Europe and North America. Known for its patented innovations, the company simplifies complex publishing workflows for commercial publishers, open-access platforms, and academic societies.
“In combination with our existing capabilities at the forefront of content workflows by managing the entire publishing process – from content creation to product delivery – this acquisition will enable us to strengthen our suite of AI-enabled technology and products which are used by some of the largest commercial publishers, prestigious learned societies, associations, and university presses, and through them, by millions of authors,” said Sameer Kanodia, Managing Director & CEO, Lumina Datamatics.
Strategic acquisition reshapes publishing technology landscape
TNQTech’s Managing Director, Mariam Ram, expressed enthusiasm for the partnership, highlighting the benefits of Lumina Datamatics’ extensive global reach and experience. “We see a clear alignment with TNQTech’s offerings in these areas. We look forward to sharing our expertise and our suite of products, our deep domain knowledge, our use of AI/ML models and data-driven intelligence, all of which serve to make the process of scholarly publishing simpler, faster, and smarter.”
Lumina Datamatics serves eight of the ten largest publishers and three of the five largest retailers globally. Its robust portfolio combines digital content services, retail support solutions, and proprietary technology platforms to enhance efficiency for enterprises in publishing and retail.
Market impact and global reach
The agreement, signed on December 9, 2024, positions Lumina Datamatics as a dominant force in digital content and publishing services globally, bolstering its workforce to over 6,500 employees across the United States, the United Kingdom, Germany, the Philippines, and India.
Deloitte Touche Tohmatsu India LLP acted as Lumina Datamatics’ exclusive financial advisor, while ICICI Securities represented TNQTech shareholders.
