Educomp Solutions to acquire "Ask n Learn Inc"

Educomp Solutions Ltd has announced that the Company has signed the sale and purchase agreement with a majority of the shareholders to acquire Ask n Learn Inc., a leading education technology Company headquartered in Singapore. The Company has set up an SPV to complete the acquisition. The total acquisition price is Singapore $ 5.98 million in cash in addition to options worth S$ 1.05 million.

This acquisition will provide the Company a substantial share of the education market in Singapore and add over 100 schools to its portfolio as well as serve as a platform for penetration into the larger APAC region. This acquisition will also bring synergies in content development and marketing at both ends.

The stock closed the day at Rs.1826.15, up by Rs.28.75 or 1.60%. The stock hit an intraday high of Rs.1852 and low of Rs.1765. The total traded quantity was 60432 compared to 2 week average of 111633.

Source : Equity Bulls

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