Forty-nine per cent stake of US-based Publication Services, Inc (PSI) was acquired by Cybermedia based in Gurgaon through its US  subsidiary Cybermedia India LLC for an undisclosed amount. The agreement includes an option to acquire 100 per cent stake in the US company within three years. PSI is a provider of a wide range of book and document production services to publishers and generated revenue of US$ 2.7 million (Rs. 12 crore) in 2006. PSI has 50 employees and clients include McGraw-Hill, Cambridge University Press, Harvard University Press, Elsevier Science, John Wiley & Sons, Oxford
University Press.

According to Pradeep Gupta, CyberMedia CMD and CEO, the alliance with PSI would enable the two companies to address the content outsourcing market with a highly experienced and quality driven team. Exports of publishing services are now a major thrust area for CyberMedia. Dr. William Stout, CEO, PSI, said that the association between CyberMedia and Publication Services seems ideal in the current global publications marketplace, where the two companies could benefit from combining PSI's editorial and project management skills and CyberMedia's cost-competitive, high quality typesetting, graphics and proofreading skills. This, according to Stout, would go a long way to a lasting and rewarding partnership, which would stimulate growth and increase the profits of both companies besides providing unparalleled publishing services worldwide.

The global opportunity for publishing outsourcing is estimated at $8.2 billion (Rs. 37,000 crore). Indian exports of publishing outsourcing is expected to grow at a CAGR of 38 per cent from US$ 200 million (Rs. 900 crore) in 2005 to $1.1 billion (Rs. 4,950 crore) by 2010, driven by availability of a trained workforce proficient in English language and publishing skills offering high quality services at competitive prices.