Hotline: 1800 102 2007
Hotline: 1800 102 2007
Apr, 25 2018

Tata Industries sells e-learning unit to digital publishing firm MPS

The transaction is expected to be completed by June 30 once certain customary conditions are met and Tata Industries’ shareholders approve the deal.

Tata Industries sells e-learning unit to digital publishing firm MPS

Tata Sons subsidiary, Tata Industries Ltd, has announced the selling out of its e-learning solutions unit to listed publishing services company MPS Ltd.

Tata Industries which invests in new and hi-tech businesses said in a statement the two companies have entered into definitive agreements over the acquisition of Tata Interactive Systems (TIS) India and its Swiss and German subsidiaries Tata Interactive Systems AG and Tata Interactive Systems GmbH.

Noida-based MPS said the cash deal is worth up to Rs 80 crore ($12.3 million).

The transaction is expected to be completed by June 30 once certain customary conditions are met and Tata Industries’ shareholders approve the deal.

Milind Shahane, currently the CEO of Tata Interactive Systems and Tata ClassEdge, will continue to head both e-learning enterprises for now. Once the deal is closed, he will continue as Tata ClassEdge’s chief executive.

Tata Interactive Systems was started nearly three decades ago. It handles training outsourcing, content development, and educational games. The firm acquired its German and Swiss subsidiaries in 2005,

“The acquisition of TIS is our definitive entry into the enterprise learning solutions market after the initial launch through [digital platform] Magplus in 2016,” said Rahul Arora, CEO of MPS Ltd. “The acquisition adds a global sales and marketing engine that has a rich background in scaling business and will unlock combined value.”

TIS had reported consolidated revenue of Rs 140 crore in the financial year 2016-17.

Wadia Ghandy & Co., Hengeler Mueller, and Bratschi Attorneys-at-law are the legal advisors to TIL for this transaction. Avendus Capital has acted as the financial advisor.

Ernst and Young was the financial advisor to MPS, while JSA Law provided legal advice to the firm.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Aviation & Hospitality Training Institute
    About Us: The Airgo Academy is one of India’s finest innovative..
    Locations looking for expansion Delhi
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 1200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • About Us: At DogSpa we love to spoil, treat and pamper..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: NashJack, a VB Group venture was founded in 2011...
    Locations looking for expansion Karnataka
    Establishment year 2015
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Clinics & Nursing Homes
    About Us: A journey that has transformed an idea into an..
    Locations looking for expansion Maharashtra
    Establishment year 1986
    Franchising Launch Date 2005
    Investment size Rs. 50lac - 1 Cr.
    Space required 0
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities