*Edserv Softsystems Ltd *has acquired 100% stake in *Sparkling Mind* for an all-cash consideration of Rs1.25 cr.
With this acquisition, Edserv has forayed into the Pre-School & Junior school segment. Transaction Note Founded by ex-Infoscians in 2007, Sparkling Minds is India's first-of-its-kind online pre-school and junior school offering. Sparkling Minds has around 2,000 registered users that include teachers, parents and pre-school owners, apart from Children. Sparkling Minds is available for both online off-campus integrated access (online learning from home) as well as in-campus activity based pre-school service. EdServ Softsystems Ltd – promoted by* S Giridharan* - is an IT solutions company that provides integrated learning & placement solutions. It offers e-learning solutions through its products – EdCenters, EdCampuses and EdCadeys. The company has been on an acqusition spree since last year. In September 2009, Edserv acquired 100 % stake inonline tuition portal *2tion.com*. In January 2010, the company acquired *SchoolMATE *for a little less than $1 mn. Again, earlier this month the company had announced its plans to acquire *SmartLearn Telcomp Pvt. Ltd.* for an undisclosed sum. The company is currently in the process of raising up to Rs.130crore through the QIP route which is expected to be complete by the first quarter of 2010-11. Earlier the company had taken an approval through an EGM to raise upto $500 mn through various routes of funding. As part of this, the promoters of EdServ are keen to subscribe to additional shares through preferential equity warrants upto the approved limits. EdServ achieved revenues of Rs.15.51 cr and Net Profit of Rs.5.64 cr for 3rd Quarter ended 31st December 2009. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
