Edtech firm LEAD acquires Pearson's K-12 local learning biz in India By CIOTechOutlook Team

Edtech firm LEAD acquires Pearson's K-12 local learning biz in India

CIOTechOutlook Team | Friday, 06 January 2023, 12:06 IST

The major learning giant Pearson and the edtech company LEAD have agreed to sell each other's local K–12 learning businesses in India for an unknown fee.

In order to better serve India's more than 5 lakh private schools, LEAD announced that it would increase its product offering and extend its reach to more than 9,000 institutions.

Pearson India offers blended learning solutions (books + digital) for private, English-medium CBSE and ICSE schools as part of its K–12 learning portfolio.

"School edtech is poised for sustained growth post-Covid and with the acquisition of the local K-12 learning business of Pearson India, we will be able to reach more schools and students in the service of our mission to provide excellent education to every child," said Sumeet Mehta, Co-Founder and CEO, LEAD.

According to the platform, a combination of fresh fundraising efforts and internal accruals will be used to pay for the acquisition of Pearson's local K–12 learning business in the nation.

The transaction is expected to close by Q1 CY 2023, subject to the usual closing conditions.

The platform's integrated system, which was founded in 2012 by Mehta and Smita Deorah, is accessible to schools in more than 400 towns and cities, reaching more than 1.2 million kids and empowering more than 25,000 teachers.

Nearly 200 countries are being served by Pearson's digital material, exams, credentials, and statistics.