Economy

Educomp forms JV with Zeebo, Lakshya Digital

PTI NEW DELHI: Jan 11 | Updated on January 11, 2011 Published on January 11, 2011

Mr Shantanu Prakash, Managing Director & CEO, Educomp Solutions Ltd. - Kamal Narang   -  Business Line



Education solutions firm Educomp Solutions on Tuesday said it has formed a joint venture with US—based Zeebo and Lakshya Digital to sell devices with educational content in India.

“Zeebo India, the joint venture firm, will work towards tailoring Zeebo’s technology and developing content for school children in India,” said Mr Shantanu Prakash, CEO, Educomp Solutions.

The partners will make an initial investment of $4 million towards the JV firm, he added. The devices, when connected to television, will offer educational content to school-goers and would work using 3G services. The devices would be available in India in the later half of the year, priced below Rs 5,000.

Apart from partnering with schools for selling the devices, the JV firm will also tie—up with telecom operators and retailers for pushing the devices in the market, Zeebo President and CEO John Rizzo said.

“School children want fun—filled content so that learning doesn’t become a task. We would introduce content that would make learning a fun activity,” Mr Prakash said.

The JV firm is still working on the subscription model for making available content for people buying the devices. Users would be able to buy and download new games and applications from its applications store.

Shares of Educomp closed at Rs 499 a piece, up 2.33 per cent from the previous close on the Bombay Stock Exchange.

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Published on January 11, 2011
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