Educational books distributor Mittal Books has acquired a 50% stake in Invincible Publishers, a five-year-old publishing house founded by Ajay Setia in 2017, an official release said. The acquisition is a strategic move for Mittal Books as it looks to expand its presence in the competitive education market in India, the release added.
According to the release, Invincible Publishers currently sits on an annual recurring revenue (ARR) of Rs 18 crore. The acquisition by Mittal Books aims to enable Invincible Publishers to leverage their existing success and expand their reach into new markets. With the combined expertise and resources of both companies, they aim to provide students across India with the best educational resources available. The collaboration between Mittal Books and Invincible Publishers intends to make a significant impact in the education industry in India, particularly in the test preparation segment.
Invincible Publishers has a presence in India under the Test Preparation Segment while Mittal Books is a major player in the e-commerce segment and the offline network, with a strong supply chain and logistics infrastructure, including four warehouses located across India.
“Invincible Publishers expertise in the Test Preparation Segment and strong relationships with influencers and YouTubers will be a great asset to our business. We look forward to working together to bring the best educational resources to students across India,” Ankit Mittal, CEO, Mittal Books, said.
Furthermore, Invincible Publishers recently partnered with the renowned publishing house Trueman, which has over 40 years of experience in the industry, for the UGC series. This collaboration has expanded their offline distribution network tenfold, the release said.