Pressmart says it turned down Google overtures

Hyderabad based Pressmart Media Ltd, a company that generates and maintains e-papers for global and Indian newspapers and magazines, says it has turned down an acquisition bid by Internet search engine firm Google Inc.

Last week, Pressmart raised $6 million (Rs 27.8 crore today) in private equity funding from US-based venture capital companies Draper Fisher Jurvetson and NEA-Indo US Ventures. The company plans to use the funds to open marketing offices in the US, the UK, Singapore and Dubai to expand its international client base.

Pressmart chief executive Sanjiv Gupta said Google executives approached the company in early March, expressing an interest in Pressmart and its licensed technology.

The Hyderabad company owns patented technology for digitizing newspapers and making them searchable on the Internet while preserving the same-as-in-print feel.

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Digital Publishing Solutions

Digital publishing services: Pressmart delivers print publications including newspapers, magazines, journals and catalogs over the new media distribution channels including web editions, mobile editions, podcastable content, RSS feeds, social networking and content aggregation services.

“'Philadelphia Inquirer' To Launch Electronic Edition In January”

The Philadelphia Inquirer will launch an electronic edition of the paper in January, according to Pressmart Media Ltd., which has signed on to develop and deliver the eEdition.

"Pressmart will co-develop, host and electronically deliver the print-replica eEdition of The Philadelphia Inquirer on its New Media Delivery Platform," the company said in a statement. "Offering Web 2.0 features that include Blogs, Podcast, RSS, and Social Media integration, the electronic edition will be delivered on multiple distribution channels to individuals, enterprises and academic institutions."

The eEdition "will be an actual replica of the print edition and will be available at a regular subscription rate for current and potential Inquirer subscribers," Pressmart added. It is set to go live on Jan. 7, 2008.

Inquirer Publisher Brian Tierney said in a statement: “This new media digital distribution channel includes eEditions, Mobile Editions, and Audio Editions for Podcasts. We can now offer our current print subscribers as well as new subscribers a convenient same-day, same-as-print eEdition delivered to their laptops or PC’s.”