After buying out Hyderabad-based education ERP provider Bridle Information and Technology Solutions (for its product SchoolMATE) last month and 2tion.com previously, BSE and NSE listed e-learning company EdServ SoftSystems is now adding another city based firm SmartLearn Telcomp to its offerings.
SmartLearn Telcomp offers online coaching via Web TV for the much sought after annual Joint Entrance Exam for premier IIT engineering colleges in India as well as the All India Engineering Entrance Exam. The coaching targets students in tier I and tier II cities, who may not have access to the best coaching classes in the country. They can register and view the lessons over the Internet. SmartLearn is funded by Kalpathi Investments, K.B. Chandrasekhar, the co-founder and chairman of e4e Inc and vice chairman of The Sanmar Group N Kumar.
E-Learning For IIT-JEE & AIEEE; Pricing
SmartLearn has 2,500 videos of lectures and 3,000 pages of study material etc and is priced between Rs.999 and Rs.5999. It is targeted at students in class 7-12. With this acquisition, EdServ is now targeting the IIT-JEE & AIEEE training space, and plans to kick off a pan-India launch for SmartLearn’s WebTV to reach out to ambitious aspirants in smaller cities. SmartLearn currently has 10,000 students who are already undergoing IIT JEE training through Web TV. Another organisation using videos as teaching aids is CEMCA with EasyNow.
Business Standard reports the acquisition was for Rs. 46 million. The company expects to observe the impact of the acquisition on its revenues in 2010-11. In the quarter ended December 2009, the company registered a net profit of Rs. 56.4 million over revenues of Rs.155.1 million. In December, the company had announced intent to raise $25 million through GDRs/ the issue of FCCBs in order to fund its expansion plans.