Educomp Solutions to acquire Ask n Learn

Mumbai, June 7 (UNI) Internet education provider, Educomp Solutions today said that it would acquire Singapore-based Ask n Learn, a leading education technology company, for Singapore dollars 5.98 million in cash, plus options worth 1.05 million in Singapore currency.

The company has set up a Special Purpose Vehicle (SPV) to complete the acquisition. This acquisition will provide the company a substantial share of the education market in Singapore and add over 100 schools to its portfolio, Educomp statement here said. It will also serve as a platform for penetration into the larger Asia Pacific region, Educomp said revealing it's future plans and added that this acquisition will also bring synergies in content development and marketing at both ends.

UNI