CyberMedia buys 49 percent stake in PSI

CyberMedia, South Asia's largest specialty media house, has acquired 49
percent stake in Champaign, Illinois-based Publication Services, Inc (PSI),
through its wholly owned US subsidiary, CyberMedia India LLC.

CyberMedia has an option to acquire 100 percent interest in PSI in three
years time. PSI, with 50-member strong team and FY 06 revenue of $2.7 million
provides a wide range of book and document production services for publishers.

Its list of clients includes McGraw-Hill, Cambridge Uni­versity Press,
Harvard University Press, Elsevier Science, John Wiley & Sons and Oxford
University Press, among others. The acquisition of PSI provides CyberMedia
access to a strong client base and team of experienced US-based professi­onals
for growing its high potential content outsourcing business.

Pradeep Gupta, CMD and CEO, CyberMedia (India) Ltd

According to industry estimates, the global opportunity for publishing
outsourcing is estimated at $8.2 billion. The Indian market for publishing
outsourcing is expected to grow at a CAGR of 38 percent from $200 million in
2005 to $1.1 billion by 2010, driven by availability of trained workforce
proficient in English language and publishing, offering high quality at
competitive prices.

PSI will be able to expand its scope of projects to its clients through this
tie-up and acquire new clients by providing cost effective content services.
CyberMedia has a team of 130 professionals in India with expertise in original
content creation, design, typesetting, data conversion, archiving and digital
asset management.

Pradeep Gupta, CMD and CEO, CyberMedia (India) Ltd said, “We are excited
about our partnership with PSI and together we can embark on a faster growth
path in addressing the content outsourcing market with a highly experienced and
quality driven team. This is the next step in CyberMedia's advent towards going
global.”

Dr William Stout, CEO, PSI, stressed, “The alliance between CyberMedia and
Publication Services represents an ideal partnership in the current global
publications marketplace. It combines editorial expertise, project management
skills, and US client base of PSI with cost-competitive, high quality
typesetting, graphics, and proofreading skills of CyberMedia. I look forward to
a long and rewarding partnership.”

Rajeev Seth, President, CyberMedia Services, will manage the partnership on
behalf of CyberMedia. “We look forward to scaling up and making a significant
impact in the publishing services outsourcing domain with committed quality of
services across a range of platforms,” said Seth.