Education startup FitKids acquires learning provider ThinkLABS

Bangalore-based education startup FitKids said on Wednesday it has acquired ThinkLABS, a science and technology education provider, for an undisclosed amount.

The company funded the all-cash deal from internal resources, FitKids said in a statement.

The acquisition will enable FitKids to extend its offerings to 100 more schools. It currently offers its services to 160 schools in the country.

FitKids founder Dev Roy said Mumbai-based ThinkLABS’ Eureka brand will enable the company to cater to Tier II and Tier III markets, where DiscoverEd cannot be economically expanded.

FitKids mainly provides STEM (an acronym for science, technology, engineering and math education) learning under its brand DiscoverEd. It also provides sports, physical education, dance, and career counselling services to children up to the 12th grade.

FitKids, which was established in 2010, posted revenue of Rs 27 crore in 2015-16. The company has about 500 employees.

ThinkLABS, which was incubated at the Society for Innovation and Entrepreneurship at IIT Bombay and launched in 2006, has partnered with nearly 300 schools across 23 states in the country. It has also tied up with 23 colleges, according to its website.

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