Ma Foi Strategic Consultants has acquired Chennai-based e-learning company Axis-V.
Ma Foi Strategic Consultants is the second business venture of the entrepreneur couple Mr K. Pandia Rajan and Ms Latha Rajan. The new outfit will focus on education, analytics and market research.
Axis-V is a 10-year-old company which provides e-learning solutions, language training and life skills training to the IT industry. Some of its clients are Acer, Cognizant and Ramco Systems.
Post-acquisition, Ma Foi Strategic Consultants will hold a 51 per cent stake in Axis-V, in which Mr Rajan and Ms Latha Rajan are already stakeholders in their personal capacity.
“With education being one of our key focus areas, Axis-V will enhance our business model. The acquisition will add provide technology support for our businesses,” said Mr Rajan.
The Axis-V brand name will be retained, he added.
Axis-V had a turnover of Rs 3.7 core last year.
Going forward
Chennai-headquartered Ma Foi Strategic Consultants was set up three months ago after Mr and Ms Rajan sold their stake in Ma Foi Management Consulting to Netherlands-based Randstand a few years ago. Offices will soon be set up in Bangalore and Hyderabad. The company is also looking to set up a subsidiary in the US too; this will be a greenfield venture.
Ma Foi Strategic Consultants is open to more acquisitions in the future. It is eyeing domestic companies in analytics, business consulting, energy consulting, IT strategy and financial structuring, said Mr Rajan.
The company will soon set up a subsidiary in supply chain management for automotive and aerospace companies. Based out of Chennai, the subsidiary will also have a presence across 12 industrial clusters and work with SMEs, tier 1,2 and 3 suppliers, said Mr Rajan.
Ma Foi Strategic Consultants could look at external funding for the parent company and its subsidiaries, he said.