Pearson, the media group behind The Financial Times and publishing house Penguin, has increased its holding to TutorVista to a majority, controlling stake of 76%, for $127m. The deal values TutorVista at $213 million. Pearson acquired a minority stake in TutorVista in June 2009 and this transaction takes Pearson’s total equity investment in the company to approximately $139 million. TutorVista has two main businesses: TutorVista.com: Started in 2005, it provides online tutoring to approximately 10,000 students per month, using Voice-Over-Internet-Protocol and online whiteboards to connect instructors in India with school and college students, principally in North America. It claims to have served over five million tutoring sessions, and 100,000 students, with two thousand teachers. TutorVista claims it gets six million visitors per month visiting its site. What the acquisition means for TutorVista.com: TutorVista's Online Tutoring will be integrated into all of Pearson’s digital products, and be sold to schools and higher education institutions globally. Edurite: started in 2000, Edurite provides technology-enabled education solutions and services for school businesses in India. Edurite operates a network of 60 centres across southern India delivering English language coaching courses for university entrance exams and out-of-class tuition to K-12 school children for SAT, ACT, AP and other exams. It also provides curriculum design, teacher training, technology solutions and school administration services to schools serving approximately 5,000 students in India. Edurite also supplies content and ICT solutions to thousands of schools across India, and owns and manages nineteen schools. What the acquisition means for Edurite: Pearson's education portfolio…
- China state-backed hacking groups reportedly targeted India and other countries; here’s what we don’t know February 23, 2024
- Microsoft Announces Automation of Risk Identification Process for Generative AI Systems February 23, 2024
- IRCTC announces tie-up with Swiggy for food delivery services February 23, 2024
- MoS IT Rajeev Chandrasekhar accuses Google’s chatbot Gemini of violating IT Rules February 23, 2024
- Google releases open-source AI model called Gemma February 23, 2024
The Minister's response came after an X user posted answers generated by Gemini regarding Prime Minister Narendra Modi.
Vaishnaw said that in the next five years, there will be significant disruptions in the way telecom technology operates.
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...
The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...