Educomp Solutions is acquiring Zaptive Internet Services Pvt Ltd for upto $1.5 Mn. As per the deal, Educomp will buy the domain name and the existing contracts of Zaptive. It will allot equity shares of upto $1.5 Mn to the shareholders of Zaptive.

Zaptive was founded by Amitabh Nagpal. Amitabh Nagpal is also the co-founder of Cymbal Corporation, which was sold to Patni Computers for $68 Mn. Zaptive operates the website - Studyplaces.com, which provides information for students who want to pursue higher education in the U.S., the U.K., India and other countries.

Zaptive is a subsidiary of U.S based Study Places Inc. Zaptive currently has contracts with more than 3,750 universities and educational institutions.

Zaptive has been on the blocks for sometime now as it was facing a cash crunch. Other parties interested in Zaptive were Info Edge India and Firefly E Ventures-subsidiary of HT Media. However, the news is that the deal went Educomp's way as Zaptive team wanted to work with Educomp. Info Edge holds 13% in Zaptive.

Investments in Zaptive

Educomp solutions is the largest K-12 education service provider in India. It provides technology based education products and services to schools through its Smart Class and ICT division. It also sells educational aids, CD-ROMs and learning content through its online initiative.

Educomp posted a bottomline of Rs 50 Cr on a turnover of Rs 206.87 Cr for the quarter ended Sep'09.Educomp has been aggresively acquiring companies to consolidate its position as the largest education company in India.

Educomp's Acquisitions

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October 23, 2010 12:59 PM

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