Aakash Educational Services buys ed-tech firm Applect
Aakash Educational Services Ltd (AESL), an entrance test preparation services provider, has acquired edtech company Applect Learning Systems.
Aakash Educational has signed a definitive deal with Info Edge (India) Ltd and other selling shareholders to buy Applect. The edtech firm provides learning programmes under the brand name 'Meritnation', which caters to students of class I to XII.
The latest acquisition is in line with AESL’s plans to accelerate the growth of its online live tutoring business.
In October 2019, Blackstone had acquired a 37.5% stake in Aakash Educational Services for Rs 1,350 crore. At that time, the company announced its plans to create a digitally enabled, omnichannel test preparation company.
Aakash Chaudhry, Director and CEO, AESL, said, “Addition of Meritnation in Aakash family will help significantly accelerate the growth of AESL’s digital business. Apart from being one of the largest offline players, AESL is also one of the largest online live tutoring players in India today. Meritnation’s decade long EdTech experience and leadership in live tutoring technology, will further strengthen AESL’s competitive positioning not only in digital education but will also further enable its offline student offering across its 200 classroom centres, teaching over 2,50,000 students.”
“Meritnation has built a strong team under the leadership of Pavan Chauhan, which will be a great addition to the AESL digital team. We are continuing to evaluate several acquisition opportunities in the ed-tech space as part of our digital growth strategy, so that we can make our well-crafted student performance journey more productive,” he further added.
Aakash Institute Seeking Franchisees For Its Digital & Distance Learning Programmes
In October 2019, AESL looked for franchisees across India for its popular Aakash Digital and Distance Learning Programmes.
The move would provide aspiring entrepreneurs to become a part of one of the largest, most trusted and rapidly expanding education brands in the country.
Aakash Chaudhry stated, “Our Digital and Distance Learning Programmes are seeing rapid expansion across India due to heavy demand from students who aspire to be engineers and doctors. With Aakash Digital, students can get the same quality of coaching and guidance of expert Aakash faculty at the convenience of their home or at schools through live online classes, recorded video lectures, online test series and printed study material programs.”
“With the launch of our franchising program, we are delighted to offer an opportunity to everyone to be a part of our phenomenal growth story, and help extend the benefits of our cutting-edge digital services to all students in their respective regions,” he added.
