MUMBAI: Global publishing giant Macmillan Group is set to sell its Indian technology solutions and BPO firm MPS, said banking sources said. Macmillan holds 61% stake in MPS, which is listed on the domestic bourses.
The Bangalore-based MPS employs around 1,000 people and undertakes publishing services work for the UK-based parent as well as third-party clients. Ernst & Young has been mandated to find a suitor for MPS.
MPS has attracted interests from IT services players as well as financial investors. Macmillan's divestment could help the company scale up operations winning more third-party businesses. Publishing firms normally shun outsourcing work to firms that are owned by industry peers and rivals. An emailed query to MPS remained unanswered.