The $4.8-billion McGraw Hill company has decided to set up its base in Hyderabad for its Indian operations.
Termed as the number one company among the top-10 business media power houses, McGraw Hill is planning to establish an IT enabled service operation in Hyderabad by acquiring Capital IQ, a local ITES operator.
Deven Sharma, executive vice-president of McGraw Hill, and Cathleen A Corbet, president of Standard & Poor's, met chief minister Y S Rajasekhara Reddy on Wednesday and explained their plans.
The chief minister has agreed in-principle on the proposal of McGraw Hill for establishing their ITES campus at Hyderabad and making it as their headquarters in India.
The chief minister has also assured to extend necessary cooperation from his government. The company has also expressed its interest to work in the education field with the government, a press release said.