MPS acquires Highwire Press, accelerates platform business

MPS Limited, a company providing content and offering technological services to academic and educational publishers, announced in a filing with the stock exchanges that it acquired publishing platform Highwire for a deal worth US$ 7.1 million (around Rs 53.63 crore).

The arrangement entailed the purchase of Northern Ireland-based HighWire Press Limited and its UK-based unit Semantico Limited for US$ 1 million. It also included the takeover of the company's US units HighWire Press Holdings, HighWire Press and HighWire UK Holdings for US$ 6.1 million. The acquisition will increase opportunities for customers of MPS and Highwire as it will bring about more comprehensive platform offerings, an increase in resources and a broader partner and distribution network.

The company has acquired several times in the past. For instance, in 2018, Tata Industries agreed to sell its e-learning solutions unit to MPS, and in 2016, MPS had acquired Magplus, a digital platform that creates and distributes content to mobile apps.

At 9.30 am on Thursday, MPS Limited's stock was trading at Rs 283.60, up by 1.21 per cent or Rs 3.40 per share. The 52-week high is recorded at Rs 612 and the 52-week low is Rs 156 on BSE.