Macmillan to acquire stake in U.S. firm

By agencies   |   Tuesday, 07 March 2006, 20:30 IST
Printer Print Email Email
MUMBAI:Leading publisher Macmillan India Ltd today said it will acquire 100 percent equity stake in the U.S. based Interactive Composition Corp. The company will enter into a formal agreement for the purchase shortly, subject to completion of necessary formalities, it informed the Bombay Stock Exchange. ICC, U.S.A has a wholly owned subsidiary in India, it said. The acquisition is expected to enable the company to quickly enhance its presence in the U.S. and contribute to increased revenue growth in North America region, it added.