British firm acquires 50 percent stake in Educomp
June 24th, 2009 - 3:43 pm ICT by IANSNew Delhi, June 24 (IANS) Pearson, a Britain-headquartered education and information company, will acquire 50 percent stake in Indian education resource provider Educomp Solutions for $17.5 million as part of an agreement signed between them Wednesday.
The two companies will offer skills training as part of the agreement, a joint statement from the companies said.
Pearson and Educomp will also jointly fund the new business during the start-up phase and make available to it the considerable assets and capabilities that the two firms have, the statement added.
“The partnership will address the growing chasm between education and employability in India,” said Educomp chief executive and managing director Shantanu Prakash.
- British firm to invest $30 mn in India's education sector (Lead) - Jun 24, 2009
- Pearson gets control over TutorVista for Rs.577 crore - Jan 18, 2011
- Educomp-Pearson joint venture launches services - Nov 26, 2009
- Brazil's Embraer to begin building drones - Sep 09, 2011
- Samsung to acquire Sony stake in LCD joint venture - Dec 26, 2011
- Pearson, Pratham Books ink deal to carry story books to villages - Oct 26, 2010
- Manpower Inc. acquires 74 percent stake in WDC - Mar 31, 2011
- Mahindra Satyam to acquire minority stake in Dion Global - Feb 10, 2012
- Reforms agenda in place for education sector: Sibal - Nov 09, 2009
- Regulator's nod for Reliance Capital's 26 percent stake sale to Nippon - Sep 14, 2011
- Colombian regulator approves BP asset sell-off - Dec 23, 2010
- ET Now to launch new business reality show - Nov 09, 2010
- Infosys partners with Singapore varsity for staff training - Sep 13, 2011
- Nippon Life to invest $290 mn in Reliance Capital arm (Lead) - Jan 19, 2012
- AT&T to acquire T-Mobile USA From Deutsche Telekom for $39 billion - Mar 21, 2011
Tags: 5 million, assets, capabilities, chasm, chief executive, education resource, educomp, employability, India, indian education, information company, june 24, managing director, new business, New Delhi, partnership, pearson, percent stake, resource provider