Pearson today announced the buyout of Educomp's shares in IndiaCan, the vocational training joint venture set up by the two companies in 2009. IndiaCan is one of India's leading vocational training companies with an impressive portfolio of services delivered through an extensive network of pan-India delivery centres.
The buyout of Educomp's 50 percent shareholding in IndiaCan comes close on the heels of Pearson acquiring 100 percent stake in TutorVista, the Bangalore based education services company after earlier acquiring a majority stake.
Speaking of the development, Bhavneet Singh, President - Pearson English & Informal Learning said "Taking complete ownership of IndiaCan represents another milestone for our ambitious plans in India and follows a similar buy out at TutorVista, the Bangalore-based learning services company."
He added: "IndiaCan has developed market leading expertise in retail and vocational training and support that will supplement Pearson's goal to help improve learning outcomes for students throughout India."
Pearson's acquisition of IndiaCan is another milestone for its ambitions in India, where Pearson has built up a significant education portfolio in a very short span of time.
IndiaCan delivers skills training, helping young people to gain employment, and those in work to sharpen their skills to gain better jobs. It has secured government contracts, helped develop pioneering skills certification, and played an important role in helping deliver broader Pearson projects.
IndiaCan operates in the Indian market through three divisons:
ETEN, a professional training unit, prepares students sitting for CA, CS and Civil Service exams, with tutorials delivered by 'star faculty' via satellite technology to locations across India.
The PurpleLeap division, which operates out of Bangalore, works with colleges and higher education institutions to calibrate students' readiness for employment.
Finally, a government division that focuses on training in areas such as hospitality, retail, ITeS and manufacturing through its extensive network of centres across India.
Notes to Editor
Pearson is the world's leading learning company, providing educational materials and services, business information through the Financial Times Group, and consumer publishing through the Penguin brand. Pearson serves learners of all ages around the globe, employing 41,000 people in more than 70 countries. For more information, visit www.pearson.com.