Quad/Graphics Purchases Minority Interest in Manipal Technologies
SUSSEX, WI—March 30, 2012—Quad/Graphics Inc., a global provider of print and related multichannel solutions, has entered into a strategic partnership with Manipal Technologies (ManipalTech), India’s largest print services and end-to-end business solutions provider. Under the agreement, Quad/Graphics has purchased a minority interest in Manipal Technologies, expanding Quad/Graphics’ geographic reach to Asia, and broadening its product and service scope.
“This investment expands our global presence, giving us a strong foothold in another emerging market with a large and growing middle class that is attractive to marketers and publishers,” said Joel Quadracci, chairman, president and CEO of Quad/Graphics. “Additionally, this partnership supports a key component of our growth strategy, which is to invest in geographies and segments where we can be a market leader through a diverse product offering, and a superior and efficient operating platform.
“We are proud to partner with a reputable, forward-thinking company like ManipalTech, which shares our commitment to advancing the effectiveness of print in a multichannel media world,” Quadracci added.
ManipalTech is a leading printer of security products, such as debit and credit cards, bank checks and drafts, high-security revenue-assurance labels, pre-paid phone cards, gift vouchers and personalized holograms, as well as marketing, branding and communications products, including magazines, catalogs, books, brochures, annual reports, consumer goods packaging, point-of-purchase displays, envelopes and stationery, manuals and labels. It performs work for customers in a variety of industries, including publishing, banking, financial services, insurance, telecommunications, education, consumer goods and retail, aviation and transportation, and the government.
The company is committed to advancing its product and service offering through research and development. Currently, it is developing products with embedded technology, biometrics such as fingerprints and iris recognition, printed electronics, and interactive print features such as near field communication (NFC).
“Quad/Graphics’ investment will fuel our growth initiatives, which are focused on bringing greater capabilities and value to customers across many industries,” said T. Gautham Pai, managing director of ManipalTech. “We continue to focus on developing solutions that proactively address our customers’ pain points, needs and value requirements, especially as consumer preferences change and businesses look to adapt.”
ManipalTech employs more than 2,000 people in multiple production facilities in Manipal, Chennai, Mumbai and Delhi; R&D and software development centers in Gurgaon and Manipal, and various sales and office locations in India. Annual sales approximate $90 million.
Quad/Graphics (NYSE: QUAD) is a global provider of print and related multichannel solutions for consumer magazines, special interest publications, catalogs, retail inserts and circulars, direct mail products, books, directories, and commercial and specialty products, including in-store signage. Headquartered in Sussex, Wis. (just west of Milwaukee), the Company has approximately 22,500 full-time equivalent employees working from more than 50 print-production facilities as well as other support locations throughout North America, Latin America and Europe. As a printing industry innovator, Quad/Graphics is redefining the power of print in today’s multimedia world by helping its clients use print as the foundation of multichannel communications strategies to drive their top-line revenues.
Manipal Technologies Ltd. (ManipalTech) grew from humble beginnings in 1941 as the back office for India’s Syndicate Bank into the preferred outsourced service partner to the entire Indian banking industry. Today Manipal Technologies and its subsidiaries provide business solutions for facilitating secure transactions as well as marketing, branding and communications products for customers in multiple industries. Among its vast product and service offering are printing, digital content management and digital publishing solutions for publishers; revenue assurance labels/excise stamps for the government; checks and debit/credit cards for the banking industry; pre-paid scratch cards and SIM cards for the telecommunications industry; brand protection solutions for consumer goods and pharmaceutical companies; and academia assessment solutions featuring comprehensive digital evaluation services. PrintWeek India named Manipal Technologies 2009 Company of the Year and 2011 Consumer Magazine Printer of the Year. Manipal Technologies Ltd., formerly known as Manipal Press Ltd., operates as a subsidiary of The Manipal Group of Companies.