New Delhi, May 20 (UNI) Educomp Solutions Ltd today said it has acquired 51 per cent stake in US-based Learning.com, with an investment of 24.5 million dollars.
The cost of acquisition includes purchase of existing shares as well as infusion of new capital into the company. This is Educomp's second strategic investment after the acquisition of Singapore's K12 company Ask n Learn, it said in a statement.
Learning.com provides web-delivered curriculum and assessment, and partners with schools and districts throughout the US and presently serves nearly two million students.
The investment will provide Educomp access to over 800 districts and two million students across the US, leveraging its substantial content development and IP capabilities to reach out to North American markets, the statement added.
Besides, it hopes to bring the company's intellectual property to schools in the US as well as bring Learning.com's products to Educomp's four million users in India and SE Asia.
Educomp operates in the US via its fully-owned subsidiary Edumatics Corporation, based in Ventura, California.
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