Veranda Learning Solutions, a Chennai-based ed-tech platform, announced that it is acquiring seven businesses through its wholly-owned subsidiary, Veranda Administrative Learning Solutions Pvt Ltd., for a total valuation of over ₹400 crore.
The acquired companies include Chennai-based Educare Infrastructure; Coimbatore-based skill development firm Six Phrase, emerging technology upskilling company Smart Bridge, Kerala-based competitive exam trainer Talent Academy, and Talent Publications, banks exams trainer Phire Learning and IT upskilling platform BAssure.
In a regulatory filing, the company said Educare Infra acquisition would help Veranda expand its access to K-12 school and college education segment while the integration of Talent and Phire brands will be a boost for its competitive exams coaching subsidiary, Veranda RACE.
Founded in 2018 by the Kalpathi AGS Group, Veranda Learning Solutions is a public listed education technology company that offers training programmes for competitive exam preparation, including State Public Service Commission, Banking, Insurance, Railways, IAS, and CA, and upskilling programmes through its subsidiaries Veranda RACE, Veranda IAS, and Edureka among others. The company also forayed into Chartered Accountancy coaching through its partnership with JK Shah Classes.
Shares of Veranda Learning Solutions closed ₹201 on NSE on Tuesday, 2.4 per cent higher than Monday’s closing price.