Educomp Solutions Ltd on Tuesday said that it has acquired a majority 51% stake in leading US-based eLearning company, Learning.com for $24.5 million, (including the purchase of existing shares and an infusion of new capital into the company). This investment provides Educomp with distribution access to over 800 districts and 2 million students across the US.
Educomp can leverage this partnership to extend its IP capabilities to the North American market. It is Educomp’s second strategic investment after the acquisition of Ask n Learn last year, a Singapore-based K12 company and a pan-Asian provider of education solutions and services that caters to over 120 educational institutions in Singapore, China, Thailand, Japan, and Brunei. 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 S E Asia.
The Oregon-based Learning.com is a provider of web-delivered curriculum and assessment and partners with schools and districts throughout the US to improve student learning outcomes.
It currently claims to serve nearly 2 million students in schools across the US. “Educomp’s investment in Learning.com is to leverage the company’s proven competencies in developing innovative web-delivered curriculum solutions,” said Shantanu Prakash, managing director, Educomp Solutions Ltd. According to William J Kelly, founder of Learning.com, “This investment from Educomp propels Learning.com forward towards 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.”
Earlier, the company had acquired a 76% stake in domestic home tutoring company – Three Bricks E-Services: promoter of the online tutoring website ‘The Learning Hour’ and ‘Threebrix.com and 70% of Canadian online solutions company Savvica.