Mumbai-based Core Projects & Technologies Ltd has acquired the UK-based education solutions firm ITN Mark Education Ltd for a total consideration of $25 million. Core Projects has bought the firm through its subsidiary Core Education and Consulting Solutions UK Ltd.
ITN Mark Education, a provider of teachers and teaching assistants, has a topline of $33-$35 million and current EBIT margins of around 12 per cent. The company has been acquired from Ochre House Ltd, the recruitment outsourcing and talent management business backed by NBGI Private Equity.
Established in 1990, ITN Mark Education services around 1,600 schools from 16 locations across England and Wales. The company provides schools with qualified staff when they are in need of hiring. Headquartered in Manchester, ITN Mark Education has approximately 3,600 teachers and 1,300 teaching assistance vetted and available for work.
“ITN is also focused on imparting industry-relevant training to teachers. Therefore, with this acquisition, Core Projects will scale new peaks in its mission to take education to its next dimension,” said Sanjeev Mansotra, chairman and global CEO of the Core Group.
Currently, Core offers cover compliance, assessment, content, teacher training, vocational training, examination management systems, language training and qualified faculties globally. It also focuses on providing technology-enabled education solutions to government bodies, schools and students. In addition, Core provides IT and software development services, and is involved in enterprise resource planning, logistics and consulting.
Earlier too, Core Projects had made similar acquisitions. For instance, Core had acquired the US-based Keenan and Keenan Group and Technical Systems Integrators LLC for an undisclosed amount. Keenan and Keenan Group is an education consulting company which provides trained consultants and staff to educational institutions while Technical Systems Integrators LLC offers education solutions and IT services, with focus on sales, delivery, installation and management of technology assets for K-12 and higher education markets.