Source: www.equitybulls.com via PwC – EdLive
Indian education services company Edserv Softsystems said it acquired its UAE-based peer Alta Vista UAE. Financial terms of the deal were not disclosed. Acquisition is in line with Edserv’s strategy to expand its overseas online learning business. Alta Vista UAE provides various contents for K-12 and UG / Skill development in the Middle East. Edserv will offer the newly acquired contents through mobile platforms. Edserv is a 4th generation education company established in 2001. The company is listed on the listed in BSE and NSE. In 2011 the company posted a revenue of INR 1.1bn (USD 22.3mn) and a net profit of INR 416.9mn (USD 8.7mn).