In 2009, Pearson had acquired a minority stake in TutorVista, increasing its holding in 2011 to a controlling position of 80 percent
New Delhi:Pearson has announced the acquisition of the block of shares it does not already own in TutorVista, to complete 100 per cent ownership of the Bangalore-based learning services company.
In 2009, Pearson had acquired a minority stake in TutorVista, increasing its holding in 2011 to a controlling position of 80 percent.
TutorVista was founded in 2005 by Krishnan Ganesh, one of India’s best-known entrepreneurs, and today has 1,300 employees across online tutoring, school management, ICT and test prep and tuition. Mr. Ganesh and Meena Ganesh, who leads TutorVista’s domestic operations, will give up all management roles in the company they jointly founded.
Pearson has named Srikanth Iyer, a senior member of the existing management, as new CEO of TutorVista.Srikanth Iyer said: “Through Pearson’s pedigree, systems and processes we are now a step closer towards establishing ourselves as the leading technology-enabled education services company in India, offering global standards of learning to Indian students, at affordable prices.”
Pearson’s complete takeover of TutorVista forms part of a wider strategy of building significant education services businesses in fast-growing emerging markets. At the heart of this strategy is applying its market-leading learning services to make education more accessible and effective.
TutorVista boasts an impressive delivery network for fast-growing education services such as school management, online tutoring, and technology based classroom solution for schools and test prep market. Through PES (formerly Edurite) it has an active customer base in major cities as well as Tier II towns, giving it a breadth of consumers that complement Pearson’s ambitions