Pearson In Talks To Buy Educomp’s 50% Stake In Indiacan

Pearson Plc., the world’s largest education service provider and one of the leading media groups, is in advanced stages of discussion with Educomp Solutions Ltd to buy out the latter’s 50 per cent stake in Indiacan, a vocational education company formed as a joint venture between the two companies, at least two sources with direct knowledge of the development told VCCircle.

While the details of the company’s valuation are not known, sources close to the development peg the deal value (for 50 per cent stake) in the range of Rs 350 crore ($70 million) to Rs 500 crore ($100 million).

In 2009, Pearson Plc. invested $17.5 million in Indiacan (then known as Educomp Vocational Education Pvt Ltd), thereby valuing the company at $36 million.

(Via Pearson In Talks To Buy Educomp’s 50% Stake In Indiacan | VCCircle)