Bharti sells Centum Learning to Everonn
"Everonn will, subject to the receipt of the necessary regulatory approvals, acquire all of the issued and paid up share capital of Centum. In return, the Bharti Family Office will receive a combination of cash and equity shares in Everonn," the two firms said in press statements.
The Bharti Family Office manages investments made by the promoters of the Bharti Group in their personal capacity.
The deal will create an organisation with a robust portfolio spanning education, corporate training and skill development.
No financial details about the transaction were provided.
"With this acquisition, Everonn will expand its reach in the Indian training space by adding corporate training, the flagship product of Centum, as a new vertical, while other business segments will seamlessly integrate with the existing verticals of Everonn," Everonn Education Director and GEMS Education India CEO Rakesh Sharma said.
The deal will also provide Everonn a gateway to the African continent with Centum's presence in over 17 countries, he added.
"Everonn will be in a position to take its education products and services to these countries and will be the first significant step in Everonn becoming a major global player in its space," Sharma said.
Centum is working with over 350 global corporations for their training requirements and has more than 170 centres in 150 cities.
"This transaction is in line with our stated objective of focussing our energies
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