Educomp Solutions has sold its entire stake in Singapore based Wizlearn Technology to V-cube Global Services for an undisclosed amount, the company informed BSE in a filing (pdf). Educomp had acquired Wizlearn (previously Asknlearn) for $7 million in 2007 in cash and options at that time and later transferred the stake from Educomp Asia Pacific to Educomp Intelliprop Ventures for $9 million. Educomp states that it made a 57% return on its original investment and that it will use the money to its debt to Axis Bank. The company said that the sale included its associated subsidiaries Singapore Learning, Pave Education and Wiz Learn (e-learning solutions company). Sale of Gateforum Educational Services stake In August last year, Educomp Solutions-owned Educomp Online Supplemental Services sold its majority shareholding in Gateforum Educational Services to ASK Pravi Private Equity Opportunities Fund for an undisclosed amount. ASK Pravi Capital said they would look to leverage Gateforum’s GATE preparation platform and scale it to other test preparation spaces. IndiaCan stake sale In 2013, Educomp sold 50% of its stake in IndiaCan, a vocational training business to Pearson, its joint venture (JV) partner in the venture. The JV IndiaCan was started between Educomp and Pearson in 2009 to tap on the vocational training market in India. Educomp stated that this move was part of their “consolidation strategy”, a third in a series of exits from non-core businesses. The company said that this stake sale was made to avoid the need to fund losses and other capital…
