Springer Nature is selling its publishing services enterprise SPS to content technology and solutions business SPi Global, in a deal expected to conclude by the end of the year. The sum was not disclosed.
SPS, which offers services to STM and HSS book and journal publishers, operates six centres with 3,600 employees based in Chennai and Trichy in India. These will now join SPi Global’s multi-geographic footprint, with headquarters in the Philippines and a presence in seven other countries, also including India, and with a total of 13,500 employees.
Ulrich Vest, Springer Nature’s chief financial officer, said SPi Global would provide “a good home” for SPS because of their complementary skills and knowledge, enabling 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 20 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.”
SPi Global president and c.e.o. Ratan Datta said the SPS buy was “a major step in our strategic plan to be the definitive leader in content technology and knowledge services industries.”