Edtech agency LEAD on Friday mentioned it would purchase Pearson Okay-12 studying enterprise in India. Nevertheless, the monetary particulars of the deal was not divulged.
The acquisition will broaden the attain of LEAD to over 9,000 faculties and can additional improve its product portfolio to cater to the complete spectrum of greater than 5 lakh personal faculties in India.
“College Edtech is poised for sustained progress post-Covid and with the acquisition of the native Okay-12 studying enterprise of Pearson India, we will attain extra faculties and college students within the service of our mission to supply wonderful schooling to each youngster,” LEAD co-founder and CEO Sumeet Mehta mentioned within the assertion.
In its Okay-12 studying portfolio, Pearson India caters to non-public, english medium CBSE and ICSE faculties providing blended studying options — mixture of each books and digital.
“LEAD’s acquisition of Pearson’s native Okay-12 studying enterprise in India is being funded via a mix of recent fundraise and inside accruals. The acquisition, which has been authorized by the Board of Administrators of each firms, is topic to customary closing situations and is anticipated to be accomplished by the primary quarter of 2023,” the assertion mentioned.
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