From rxpgnews.com
SAGE Publications acquires 100 percent stake in Indian arm
By IANS,
Jan 22, 2007 - 11:04:27 PM
New Delhi, Jan 22 - SAGE Publications, an international academic publication company, has acquired 100 percent stake in its Indian arm SAGE India even as the latter is planning a foray into regional language publishing.
'We are delighted that recent changes in Indian legislation have enabled us to incorporate SAGE India fully into the group,' Blaise Simqu, US-based president and chief executive of SAGE Publications, said here Monday.
Founded in 1965 by Sara and George McCune, SAGE Publications is a leading international publisher of journals, books and electronic media for academic, educational and professional markets.
It has now bought the remaining 76 percent in SAGE India for Rs.120 million.
SAGE India was founded in 1981 by the McCunes in collaboration with Tejeswar Singh, a former head of Macmillan India. Singh, who served as managing director of the company till recently, is now retired but continues as non-executive chairman of the board of directors.
Speaking on the occasion, Vivek Mehra, newly appointed managing director of SAGE India, said the company is planning to enter the regional language market in India, starting with the translations of its best-selling English titles.
Asked if the company has identified any language, Mehra said, 'As of now, we are looking at Hindi, Bengali, Marathi, Malayalam and maybe Kannada.'
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