M&A

M&A

CL Educate acquires digital exam biz from NSEIT for Rs.230-Cr

MoneyControl   Digital Examination Business  

CL Educate, the publicly-listed coaching services provider under the brand Career Launcher, has acquired the Digital Examination Business (DEX) from NSEIT Ltd for INR 230 crore. The acquisition excludes NSEIT Ltd's technology business. Additionally, INR 75 crore will be payable upon achieving certain business milestones.NSEIT Ltd is a wholly-owned subsidiary of NSE Investments Ltd and a step-down subsidiary of the National Stock Exchange of India. The DEX unit of NSEIT, an unlisted public company, has been a player in the automation and management of online examination processes and digital learning solutions since its incorporation in 1999. For FY24, DEX reported a turnover of INR 198.58 crore.

In Apr 2024, Bahrain-based alternative investment firm Investcorp had acquired the digital technology services business of the National Stock Exchange , NSEIT, for INR 1,000 crore. The transaction excludes the digital examinations business of NSEIT.For FY24, NSEIT had reported about INR 198.42 Cr in Operating Income and about INR 61.16 Cr in PAT.