EDUCOMP SOLT. ACQUIRES MAJORITY STAKE IN TAKSHILA
Details of the Companies:
Acquiring Company: [pic]
▪ Educomp Solutions, founded in 1994, is a globally diversified technology based education solutions provider and the largest education company in India. It has Citi Venture Capital and Gaja Capital as its investors.
▪ Vision: To apply innovative solutions to solve critical problems relating to "Quality of Education" and "Access to Education" for all.
▪ Mission: To reach 10 million learners through our products, services and solutions and be amongst the top five K-12 companies worldwide by the year 2010.
▪ Educomp serves over 19,000 schools and 9.4 million learners and educators across the world (India, United States, Srilanka, Canada and Singapore).
▪ The company specializes in the creation of learning content, management of learning, and delivery of content.
Acquired Company: [pic]
▪ Takshila Management Service, set up in 1997, is a company specializing in setting up high quality schools in Tier II & Tier III cities across India.
▪ Vision: Providing holistic education at an affordable price through quality control, scientific management and infusion of latest technology in the knowledge industry
▪ Presently, Takshila Management Services own 6 parcels of land and it has plans to set up 3 schools in Hoshiarpur (Punjab), Ahmednagar (Maharashtra) and Gaya (Bihar) to be ready for the coming academic fiscal by June 2009.
Objectives of the acquisition:
1. The acquisition is beneficial for Educomp’s target of setting up schools across India for which it has tied up for a line of credit for Rs. 725 crore. Educomp plans to set up 25 schools over the next two years.
2. The schools to be named "Takshila Schools" will have several distinguishing features and an affordable price point in order to cater to the lower segment of the population.
Details of the Acquisition:
▪ Educomp acquired a 51% stake in...