Ace India To Acquire Higher Educational Institutions Abroad
Ace India Ltd has announced to acquire higher educational institutions in UK and Europe to expand its global footprint.
Its board has also approved to set-up private university in France.
Ace India Ltd provides education under 3 verticals K-12 education, higher & vocational education and ICT solutions.
Transaction Refernece: Myiris
Ace India formerly known as Ace Intergrated Finance, is engaged in varied activities including leasing, investments, merchant banking and entertainment. It has recently forayed into the educational space.
Ace India is in the process of setting up various management institutes for providing entrepreneurial development programmes and other vocational courses across the globe.
It will invest Rs. 450 Cr in the next 3 years to create infrastructure as well as commence and streamline operations in all its 3 education verticals.
Ace India reported a turnover of Rs 1.2 Cr for 2009-10 with PAT of Rs 1.6 lakh.
This year, there have been some M&A's in Indian education sector - Edserv Softsystems Ltd acquired 100% stake in Sparkling Mind, it also bought e-learning firm Smartlearn Telcomp Pvt. Ltd and in Jan, it also bought SchoolMATE, Teamlease Services Pvt Ltd acquired a substantial majority stake in IIJT Computer Education Ltd and Career Launcher India acquired a minority stake in Chennai based 361 Degree Minds Pvt Ltd.
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