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Weekly News Digest

August 22, 2005 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today. For other up-to-the-minute news, check out ITI痴 Twitter account: @ITINewsBreaks.

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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:

  1. 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
  2. Professional Publishing用rovides composition and data conversion services to publishers of scientific, technical, and medical books and journals
  3. Information Publishing用rovides data conversion services to libraries, universities, and information aggregators
  4. Financial Publishing用rovides data conversion and composition services to financial printers
  5. Enterprises用rovides e-learning services, composition, and data conversion services to major corporations in financial services, pharmaceuticals, consulting, and computer industries

Source: TechBooks



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