ACK Media buys India Book House for undisclosed amount
May 26, 2010
Source: MM Network
By: Media Mughals
ACK Media, the entertainment and education Company, has announced the acquisition of India Book House (IBH), a book distribution firm. The acquisition has been made for an undisclosed amount, as the agreement sought between the two entities does not alow them to do so.
ACK Media engages in operations for entertainment and education of children for all ages with collection of its works such as Amar Chitra Katha, Tinkle and Karadi Tales. Through this acquisition ACK Media aims to develop an end-to-end content creation and distribution capability.
IBH was established in 1952 to import and distribute books and magazines in India. the company currently has presence through its 10 offices in major metros across India. It has a distribution network that includes over 2,500 stores and 15,000 vendors.
“This acquisition is essential for our overall strategy of expanding the children’s media category to all forms -- print, video, games, toys, merchandise, and other products,” remarked Samir Patil, CEO and Founder, ACK Media.
The new entity formed post the acquisition of IBH would be spearheaded by Ashish Goel, currently Chief Operating and Financial Officer of ACK Media, as the Managing Director. |