SPi Global signs agreement to acquire SPS from Springer Nature Group
SINGAPORE and MANILA, Philippines, Dec. 03, 2019 (GLOBE NEWSWIRE) — SPi Global, the market leading content technology and content solutions enterprise that provides data services and subject matter expertise to multiple industries, today announced it has signed a definitive agreement for the acquisition of Scientific Publishing Services, or SPS, from research and education publisher Springer Nature Group. The transaction is expected to close by the end of December 2019, subject to regulatory approval.
SPS is an end-to-end solutions provider for print and digital publishers offering a diversified suite of services to science, technology and medical (STM) and humanities and social sciences (HSS) book and journal publishers, and has evolved to become a full-service offshore partner. While publishing services is its core business, SPS has ventured into other offerings including knowledge process outsourcing (KPO) for finance and marketing services, and technology solutions.
SPS operates six delivery centres with 3,600 full-time employees based in Chennai and Trichy in India. These will join SPi Global’s multi-geographic footprint, with headquarters in the Philippines and a presence in seven other countries, India, US, Vietnam, Nicaragua, China, UK and Singapore, served by more than 13,500 employees.
“The acquisition of SPS is a major step in our strategic plan to be the definitive leader in content technology and knowledge services industries. The strength of SPS in print and digital publishing production services enhances SPi Global’s proven expertise in this area. In addition, SPS complements SPi’s sophisticated suite of solutions built for data-discovery and smart content in STM publishing, financial, legal and a wide spectrum of professional content segments. The addition of SPS provides us an opportunity to better serve the publishing industry through highly impactful technology, a diversified talent pool of SMEs and innovative end-to-end service offerings,” said SPi Global President and CEO Ratan Datta.
“We are glad to have found a good home for SPS with SPi Global, given the company’s strengths, capabilities and corporate culture,” said Ulrich Vest, Chief Financial Officer of Springer Nature. “We have been working with SPi for 15 years now and have developed a strong relationship founded on mutual trust and confidence. SPS and SPi Global have complementary skills and knowledge which will enable them to serve a wider clientele. We must thank our colleagues at SPS, who have been an important part of our business for more than twenty years under the esteemed leadership of the late Sharad Wasani, using deep subject matter expertise to deliver excellent services to enable us to serve a demanding and sophisticated market. Separating from Springer Nature presents SPS with new opportunities so that they can continue to build on their success.”
About SPi Global
SPi Global is a market leading content technology and content solutions enterprise that provides data services and subject matter expertise (SME) to multiple industries such as research, learning and education, finance, healthcare and life sciences, media and retail, and other corporates. Leveraging its deep domain expertise and suite of proprietary technology platforms, the company brings forth cutting-edge innovation for the extraction, enrichment and transformation of structured and unstructured content and information assets.
With a client-base scoping 30 countries worldwide, SPi Global delivers business transformation services from 20 locations across the globe. The company’s multi-geographical resource pool is strategically located in eight countries, the Philippines, India, United States, China, Nicaragua, Vietnam, United Kingdom and Singapore.
In August 2017, Partners Group, the global private markets investment manager, invested in SPi Global on behalf of its clients.
For more information, visit www.spi-global.com.
About Springer Nature Group
Springer Nature is a leading research, educational and professional publisher, providing quality content to our communities through a range of innovative platforms, products and services. Every day, around the globe, our imprints, books, journals and resources reach millions of people – helping researchers, students, teachers & professionals to discover, learn and achieve more.
Visit: group.springernature.com and follow @SpringerNature.
|SPi Global:||Celeste Ilagan|
|Senior Vice President,|
|Marketing, Corporate Communications and External Affairs|
|Springer Nature:||Thea Sherer|
|Director of Group Communications|
|+44 207 843 4703|