New Delhi-based e-learning company Educomp Solutions has informed that it has invested US$ 24.5 million for acquiring 51% stake in US-based Learning.Com.
Learning.Com, founded in 1999, offers web-delivered curriculum and assessment, serves nearly two million students in schools across the United States and has partnership with schools and districts throughout the United States.
The deal includes the purchase of existing shares as well as an infusion of new capital into the company.
Through this deal, Educomp has got distribution access to over 800 districts. This will also leverage its substantial content development and IT capabilities to reach out to North American markets. This is Educomp's second strategic investment after the acquisition of Singapore-based Ask n Learn.
Educomp Solutions has reported a net profit of Rs 31.46 crore for the fourth quarter ended March 2008, with an increase of 239 per cent as against Rs 13.13 crore reported during the same quarter last year. Before the stock market crash in January this year, Technical Analyst Ashwani Gujral had suggested investors to buy this stock for long term.
Source: Top News