FirstObject Technologies To Buy Pre-School For Rs 25Cr
Advertisement

FirstObject Technologies To Buy Pre-School For Rs 25Cr

By TEAM VCC

  • 13 May 2010

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. 

Advertisement

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.

Advertisement

Share article on

Advertisement
Advertisement
Google News Icon

Google News

Follow VCCircle on Google News for the latest updates on Business and Startup News