Educomp, education software solutions provider, has entered into a 50:50 joint venture (JV) with the UK-based publishing house Pearson, said a person with direct knowledge of the development. The JV will offer vocational education business leveraging Educomp's learning network and Pearson's education content. US $17.5 million would pumped in by Pearson in the JV and it was reported that an agreement has been signed in Singapore on Tuesday, regrading the same. He added both the companies are likely to invest an additional US $20 million in the next five years in the new business. When contacted, Educomp's spokesperson declined to comment.
The JV will provide Educomp access to Pearson's content on vocational education. For instance, Pearson's content on Spoken English alone has 3.5 million users globally. Besides, Educomp would be able to use Pearson's content on vocational training in sectors such construction, automobiles and hospitality. Pearson will be able to tap the vocational education market through Educomp's network. Pearson, an international media company, with businesses in publishing, education and business information, plans to aggressively expand its footprint in the Indian market. Recently, it reportedly picked up a strategic stake in TutorVista, a Bangalore-based e-learning firm for about $15 million.