New Delhi, May 20 Educomp Solutions Ltd on Tuesday announced the acquisition of 51 per cent stake in US-based e-learning company, Learning.com, for $24.5 million. The acquisition cost includes the purchase of existing shares as well as an infusion of new capital into the company.
“This investment provides Educomp with distribution access to over 800 districts and two million students across the US and leverages its substantial content development and IP capabilities to reach out to North American markets,” an Educomp release said.
This is Educomp’s second strategic investment after the acquisition of Singapore-based Ask n Learn. Through this partnership, Learning.com and Educomp together hope to bring the entire suite of Educomp’s Intellectual Property to schools in the US as well as bring Learning.com’s products to Educomp’s four million users in India and South East Asia.
Founded in 1999, Learning.com is the provider of Web-delivered curriculum and assessment, and partners with schools and districts throughout the US to improve student learning outcomes. “Educomp’s investment in Learning.com is to leverage the company’s proven competencies in developing innovative web-delivered curriculum solutions,” Mr Shantanu Prakash, Managing Director, Educomp Solutions Ltd said.