Varkey Group Increases Stake in Everonn Education

GEMS Education, K-12 operator in the world and owned by the Varkey Group and Associates which recently purchased 38.12 percent and management control of Everonn, says the synergies with Everonn will play a critical role in improving the standards of education provided to the children of India.

To consolidate its place GEMS Education has appointed the Chief Executive Officer of GEMS Education – South Asia, Rakesh Sharma and Senior Director with GEMS Education, Dino Varkey on the Everonn Board.

Speaking after the Everonn board meeting, Sharma says the GEMS Education investment in Everonn will only have a positive impact on the Indian education sector, “Our vision is to provide access to quality education to as many children in the world as possible. Investing in Everonn will provide us with a critical operating base within India and give added momentum to our strategic expansion plans. India is a key geographic segment where we have begun to establish ourselves as a leading education provider under the GEMS Education brand. This is an exciting time for our company as we expand our global footprint”.

Sharma added that GEMS Education’s leading position in the school sector coupled with Everonn’s expertise in content creation and technology enabled delivery of content, offer considerable scope for synergy in India which will ultimately help GEMS achieve its vision.

“There are significant potential benefits in bringing together GEMS Education’s vast network of world class educationalists and significant student body with Everonn’s Technological capabilities – Live & Interactive Virtual Platform. As the relevance of distance learning and technology-driven education increases across the world and especially in a country like India with a population of 1.2 billon, acquiring the stake in Everonn demonstrates the group’s aspirations to meet the challenges that will come from this new trend both in India and globally”, Sharma said.

GEMS Education has a long term commitment to education and has owned and operated schools for over 50 years. In addition, through its GEMS Education Solutions business, it advises many governments looking to reform their education sectors.

GEMS Education and Everonn will, over the next few months, be holding detailed discussions to build on the strengths of both companies. He further added that SKIL Infrastructure continues as one of the key stake holders in the company. 

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