Educomp Solutions Ltd has picked up a 76 per cent stake in Bangalore-based A-Plus Education Solutions Pvt Ltd, a company that aims to make college students workplace ready. Educomp will invest Rs 10.75 crore or $2.5 million in the company over the next two years for the stake.
A-Plus Education operates under the brand name of Purple Leap and focuses on the area of improving the employability of college graduates. It will focus on preparing students currently studying in over 15,000 colleges in the country workplace ready. The company was founded in 2005 by Amit Bansal, Hemant Somani, Vinay Nijhawan and Chandrasekhar Shetty, all graduates of XLRI and IIM Bangalore.
In its communiqué to the stock exchange, Educomp said that it will leverage its very large customer base of 5 million students in India, which is going upto 10 million by FY09-10, who need guidance.
Meanwhile, Educomp has taken over 18 vocational training Institutes of the Govt. of India as well as 12 skill development centres from the Govt. of Gujarat. Educomp also said that it will work directly with domain experts in retail, management, and other aligned disciplines to get best practices to such institutions.
Education - from content development to delivery to classroom courses - is considered a hot opportunity, and many venture capital firms (liek SAIF Partners) as well as companies like Info Edge Ltd are looking at this sector in a big way.