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The Navneet Education Ltd signs an agreement to acquire Britannica’s Indian curriculum business for Rs 88 croore. This move will help expand Navneet’s range of curricular offerings in the Indian school market.
Announcing the acquisition of Britannica’s curricular business Navneet’s Director, Mr. Anil Gala said, “The coming together of the two companies will help enhance Navneet’s footprint and access to newer markets. It will also significantly augment Navneet’s intellectual property.”
Britannica India’s Curriculum Division designs and develops educational products, used by nearly 5 million students, across India and Indian schools abroad. By partnering with Navneet, Britannica India’s business will expand its products range and further accelerate its growth.
Under the agreement, the current Britannica business unit will become an independent company within Navneet and will realise considerable synergies with Navneet’s larger Indian group. The company will market Britannica’s existing India-specific curriculum titles, such, ‘Know for Sure’ and ‘The English Channel’ as well as develop new titles under Britannica’s brand, editorial supervision and guidelines for 7 years.
Chicago-headquartered Britannica Inc. will continue to offer in the region its award-winning digital education solutions.
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