New Delhi: Pearson has announced the buyout of Educomp’s shares in IndiaCan, the vocational training joint venture set up by the two companies in 2009.
The buyout of Educomp’s 50 percent shareholding in IndiaCan comes close on the heels of Pearson acquiring 100 percent stake in TutorVista, the Bangalore based education services company after earlier acquiring a majority stake.
Speaking of the development, Bhavneet Singh, President, Pearson English & Informal Learning said “Taking complete ownership of IndiaCan represents another milestone for our ambitious plans in India and follows a similar buy out at TutorVista, the Bangalore-based learning services company.”
He added: “IndiaCan has developed market leading expertise in retail and vocational training and support that will supplement Pearson’s goal to help improve learning outcomes for students throughout India.”
Pearson’s acquisition of IndiaCan is another milestone for its ambitions in India, where Pearson has built up a significant education portfolio in a very short span of time.
