Veranda Learning Solutions Limited, a public listed edutech company that offers a bouquet of training programs for competitive exam preparation, including State Public Service Commission, Banking, Insurance, Railways, IAS and CA, as well as a slew of professional skilling and upskilling programmes in trending technologies today announced that it has signed a definitive agreement to acquire T.I.M.E. (Advanced Educational Activities Pvt Ltd).
For a consideration of Rs. 287 crores, this 100% acquisition will be in a phased manner with 80% of the outstanding capital along with management control in phase 1, followed by the purchase of the remaining 20% at the end of two years (subject to the fulfillment of closing conditions).
T.I.M.E. is India’s leading test-prep institute with a pan-India presence operating through 188 centres including franchisees spread across 98 cities in India and is headquartered in Hyderabad. Having trained around 22 lakh students since its inception in 1992 and with a run rate of training almost 1.1 lakh students every year, it has been recognized as India’s leading institute for MBA test-prep with around 37,000 unique test takers for its flagship online CAT test series – AIMCAT.
T.I.M.E. offers training programmes for national and state-level entrance exams like CAT, MAT, CMAT, CLAT, IIT Foundation, JEE mains & advanced, NEET, IPM, BBA, CUET, GATE, Bank PO, SSC, State-level admission exams and international exams like GMAT, GRE, IELTS and TOEFL including campus recruitment training. Amoha Education Private limited, a subsidiary of T.I.M.E. has been offering training in spoken English since 1981.
It offers spoken English training in both the physical classroom mode and the distance education mode. The Company also has a chain of pre-schools under the T.I.M.E. Kids brand operating through 222 pre-schools in 56 cities.