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MPS acquires AJE to scale AI capabilities and enter B2C market

Posted On : 2024-02-29 22:35:48( TIMEZONE : IST )

MPS acquires AJE to scale AI capabilities and enter B2C market

MPS North America LLC, a wholly owned subsidiary of MPS Limited, announced today the successful completion of the acquisition of AJE LLC, including its subsidiary American Journal Online (Beijing) Information Consulting Limited. The strategic move marks MPS' entry into the B2C marketplace and significantly enhances its AI capabilities. The acquisition includes Curie, an AI-powered writing assistant that provides intelligent suggestions, improves writing structure, enhances flow, and assists with citations, thus facilitating the creation of highquality academic content.

For AJE, joining MPS means that the author-focused company is now part of a publisher-agnostic ecosystem, with more opportunities to grow its customer base and enter new markets. In addition, AJE's customers can take advantage of services offered by MPS' deep bench of publishing professionals.

Marc Spenle, COO of Springer Nature, stated: "AJE has been part of the Springer Nature family for eight years, and we are therefore delighted to have found in MPS, with its expertise in global solutions, a publisher-neutral owner better placed to grow the business as it moves forward. This is an extremely exciting opportunity for AJE, and we look forward to continuing to be a customer, ensuring Springer Nature authors continue to have access to their high-quality language editing services."

Rahul Arora, Chairman and CEO of MPS Limited, stated: New York, NY: "The acquisition of AJE drives us toward Vision 2027 in a meaningful way, and the scale-up will profoundly impact our Content and Platform Solutions business. Additionally, current and future AJE customers will see significant benefits from MPS' long-term strategy of embracing technology and leveraging efficiency to drive value and quality for our customers.

The acquisition brings five strategic advantages:

1. Integration of Curie into our portfolio further enhances our AI-driven capabilities, aligning with our commitment to consistent innovation through MPS Labs.

2. A definitive entry into the B2C marketplace broadens our reach. A strategic move that is expected to have a meaningfully positive impact on our scale agenda.

3. Expansion into China further diversifies our business and aligns with our agenda to strengthen our global presence.

4. AJE's acquisition advances us upstream in the value chain, keeping us close to authors. MPS now stands as the only global player with the end-to-end capabilities to service academic publishing from author to researcher.

5. Through the acquisition process, Springer Nature and MPS have committed to realizing the tremendous value that will be created by advancing our strategic partnership.

In summary, the acquisition of AJE aligns with our growth strategy called 'Supercharging Gestalt,' focusing on a market-based approach, premier customers, expansion into new markets, investment in new capabilities, and acquisition of growing assets."

Shares of MPS Limited was last trading in BSE at Rs. 1482.75 as compared to the previous close of Rs. 1495.25. The total number of shares traded during the day was 864 in over 166 trades.

The stock hit an intraday high of Rs. 1500.00 and intraday low of 1441.60. The net turnover during the day was Rs. 1273811.00.

Source : Equity Bulls


MPS INE943D01017 Acquisition AJE AICapabilities B2C