Mumbai: E-learning solutions provider Educomp Solutions has invested $24.5 million for acquiring 51% stake in US-based Learning.com, a provider of web-enhanced instruction.
The transaction includes purchase of existing shares as well as infusion of new capital into the company.
Through this deal, Educomp has got distribution access to over 800 districts and leverages its substantial content development and IT capabilities to reach out to North American markets.
Learning.com, founded in 1999, serves nearly two million students in schools across the United States and has partnership with schools and districts throughout the country.
This partnership would facilitate both Learning.com and Educomp to bring the entire suite of Educomp’s intellectual property to schools in the US and bring Learning.com’s products to Educomp’s four million users in India and SE Asia.
This is Educomp’s second strategic investment after the acquisition of Singapore-based Ask n Learn. Shares of Educomp were trading at Rs 4,109.90, up 0.61% on the BSE in morning trade.