|Weekly News Digest
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TechBooks Announces $45 Million Investment by American Capital
TechBooks (http://www.techbooks.com), a provider of electronic content outsourcing services, announced that American Capital Strategies, Ltd. (Nasdaq: ACAS) has invested $45 million in the company. TechBooks management is maintaining a controlling equity interest, with American Capital investing in both equity and subordinated debt of TechBooks. Bank of America is providing a revolving credit facility. American Capital Strategies is a publicly traded buyout and mezzanine fund with capital resources of approximately $5.4 billion.
Founded in 1988, TechBooks is headquartered in Fairfax, Va., and employs more than 3,000 people. The company maintains offices in Los Angeles; Boston; York, Pa.; the United Kingdom; Delhi, India; and Pune, India. TechBooks specializes in composition, data conversion, and e-learning services across five main market verticals:
- Educational Publishing用rovides services to publishers of elementary, high school, and college textbooks as well as digital content services for Web, wireless, and e-book versions of the textbooks
- Professional Publishing用rovides composition and data conversion services to publishers of scientific, technical, and medical books and journals
- Information Publishing用rovides data conversion services to libraries, universities, and information aggregators
- Financial Publishing用rovides data conversion and composition services to financial printers
- Enterprises用rovides e-learning services, composition, and data conversion services to major corporations in financial services, pharmaceuticals, consulting, and computer industries
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