Core Technologies plans to buy 3 companies for US$ 45 mn

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The Core Projects and Technologies would be acquiring three companies in the education sector for a sum of nearly US$ 45 million in the US and the UK.

The company is buying US-based KC Management Group, UK-based Azzurri and Hamlet Computer Group. The KC Management Group provides schools management systems, worths US$ 30 million, while the UK-based Azzurri is an educational software provider, which worths US$ 12 million and the Hamlet Computer Group, an assessment administration systems maker, worth US$ 3 million. The company had raised nearly $80 million through overseas convertible bonds in May and earmarked US$ 60 million for acquisitions. Apart from these acquisitions, the company is also looking to close another acquisition by the end of 2007. In addition to serving the US and UK markets, the company is also planning to tap the public schools and colleges in India. The company is talking with several state governments for deploying its products in the state-run schools.

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