Bahrain MTI acquires reports company
Manama, May 10, 2013
Bahrain-based MTI has announced the acquisition of South Asian annual report specialist Copyline.
Under a share purchase and strategic alliance agreement, MTI will initially take a minority equity stake in Copyline, with a time-bound plan to scale the investment up to 35 per cent, over a two- to three-year period, reported the Gulf Daily News, our sister publication.
The agreement was signed by Copyline chairman Mano Tittawella and MTI chief executive Hilmy Cader.
Copyline is a design and print house, established in 1991, specialising in annual reports and a diverse range of printed material. It is also a total solutions provider for all publishing needs.
"MTI is looking to develop a multitude of professional services businesses, with the ultimate intent of taking it public and thus providing an opportunity to invest in professional services," said Cader.
"Our strategic alliance with an investment in Copyline, is our first step in entering such professional services via the acquisition route.
"Copyline has an exceptionally strong track record, a growing blue-chip clientele and strong capabilities in the conceptualising and development of annual reports and corporate profiles," he added.
"MTI is a dominant player in strategy consulting and also has a fast growing international network," said Tittawella.
"Given Copyline's capabilities, we see some strong synergies in the local and international market. We also hope to benefit from MTI's strategy capabilities in further sharpening our business development and operational efficiencies," he added.-TradeArabia News Service