Comments
Diversified educational services provider Educomp Solutions Ltd has picked up a majority stake in test preparation company Gateforum Educational Services Pvt Ltd.
Gateforum provides preparatory tools for Graduate Aptitude Test in Engineering (GATE), the entrance test for admission to postgraduate courses in technical institutes such as IITs and NITs.
Four-S Services Pvt Ltd was the sole advisor for the deal.
“The alliance with Gateforum is another leap forward in Educomp's vision to create a strong presence across the education value chain,” said Mr Shantanu Prakash, Chief Executive Officer and Managing Director, Educomp Solutions Ltd.
This is the second acquisition in the engineering test prep segment by Educomp during the financial year. In August, the company had picked up a strategic stake in engineering test prep player Vidya Mandir Classes Pvt Ltd.
The company has aggressive growth plans in the supplemental education market, according to a release.
The supplemental education market is estimated at $8.2 billion, growing at 18 per cent CAGR and expected to reach $19 billion by 2014. Educomp has invested more than Rs 92 crore in the past four years, creating scale through proven technology IP and platform created by Vidya Mandir Classes, WiZiQ, ETEN using Web 2.0, VSAT.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.