FirstObject Technologies Ltd (FTL), a Hyderabad-based provider of integrated business, technology and process solutions, is acquiring Pre-School, an e-learning company for a consideration of Rs 25 crore, it said in its filing to the BSE.
FirstObject has signed an in-principle agreement with the target company, and has initiated legal and financial due diligence, it said in a statement. Pre-School has franchisees with various kindergarten schools, and offer pre-school content.
The acquisition will add a new range of products to FirstObject portfolio, and make it an integrated player in this segment offering content across all the verticals, from pre-school to university level.
FirstObject also offers management consulting, technology and outsourcing services, besides e-learning modules. It has operations in India, Middle East and USA.
In March quarter, the net profit of the company rose 63.04% to Rs 70 lakh, from Rs 40 lakh in the corresponding quarter a year ago. The net revenue of the company was Rs 787 lakh in the quarter.
Educomp Solutions Ltd, a Delhi-based e-learning solutions company, is another such firm offering e-learning solution in kindergarten to class XII segment. It has acquired a venture-backed education startup Zaptive Internet Services Pvt Ltd in January this year.
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