Educomp acquires majority stake in Learning.com for $24.5mn

Educomp Solutions Ltd today announced that it has acquired a 51% stake in leading US based eLearning company, Learning.com.

The majority stake has been acquired by Educomp at a cost of $ 24.5 million, which included the purchase of existing shares as well as an infusion of new capital into the company.Founded in 1999, Learning.com (www.learning.com) is the premier provider of Web-delivered curriculum and assessment, and partners with schools and districts throughout the United States of America to improve student learning outcomes. It currently serves nearly two million students in schools across the United States.

This investment provides Educomp with unparalleled distribution access to over 800 districts and 2 million students across the US and leverages its substantial content development and IP capabilities to reach out to North American markets. It is Educomp’s second strategic investment after the acquisition of Ask n Learn, the leading K12 company in Singapore. Through this partnership Learning.com and Educomp together hope to bring the entire suite of Educomp’s intellectual property to schools in the US as well as bring Learning.com’s products to Educomp’s 4 million users in India and SE Asia.

“Educomp’’s investment in Learning.com is to leverage the company’s proven competencies in developing innovative web-delivered curriculum solutions,” says Shantanu Prakash, Managing Director, Educomp Solutions Ltd.

“We look forward to working with the Learning.com management team to support students worldwide to learn in an effective online environment” says Sandeep Kumar, President of Edumatics Corporation, the U.S. education subsidiary of Educomp.

“This investment from Educomp propels Learning.com forward at a trajectory that will allow us to move even more quickly to create both the best digital curriculum solutions, and intuitive features and functionality supporting those solutions through our Digital Learning Environment,” says William J. Kelly, Founder of Learning.com

Educomp’s presence in US is via its fully owned subsidiary, Edumatics Corporation, based in Ventura, California.

Sourced From: Mutual Public Relations

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