The buzz surrounding online education industry refuses to die down and this time it seems M & A has become the toast of the industry. To fuel its growth momentum Edserv has announced the acquisition of 2tion.com, a niche portal in online education space.
2tion has a base of 50000 students and also has several hundreds of tutors under its fold.2tion helps tutors and teachers to get training in online teaching profession as well as market their study materials through its site.Students and parents gets the benefit of directly contacting tutors at the same time checking their credentials.
2tion provides online tutoring services to Global audiences and as such has good presence in U.S and middle east market. Edserv will be integrating its to-be-launched EdClass product with 2tion so as to leverage the education eco-system surrounding the acquired service.It has started the process by integrating 2tion services with its online education services thus catering wide segments of college and school markets.
G. Sujai, CEO, 2tion.com, said “EdServ is a well known player in the education space. With their strong backing, we are confident that2tion.com has the potential to become the leading online tuition portal in the country in the years to come.”
EdServ is also looking at increasing its in-house tutor count so as to serve the growing demands and serve its expansion plans.Edserv recently announced its plans to build 50 schools over the next 6 months.The company also believes this acquisition would be revenue accretive from next quarter onwards.
Giridharan, Chairman and CEO, EdServ added, “Our plan is to aggressively market the online tuition services through 2tion.com so as to get into the larger tuition market among school students across India. With Spoken English skill development through online interactive sessions gaining popularity especially in the Asian market, we will also expand our presence into the overseas market by taking this online tuition service into markets such as China and Vietnam over the next 6-12months.”
In recent past we have seen many funding deals surrounding the industry such as multi-million Investments by Helix into Learningmate and mahesh tutorials, Pearsons also Invested Into Educomp And Tutorvista. The industry is also seeing a flurry of orders as government renews its thrust on digital education.
Online education business has been on a proliferating path and is seeing wide variety of segments getting covered through online education services. M & A activities would further increase in the future as valuations for education startups are sky rocketing and bigger players fish on smaller ones to continue their growth momentum. Edserv acquisition of 2tion would help it to strengthen its standing in the online education segment whereas facilitating further synergies into its core offline operations.
