<http://www.dealcurry.com/20100920-Core-Projects-Acquires-Two-US-Based-Education-Firms.htm>
*Core Projects & Technologies Ltd* has acquired two US-based education companies. It has acquired *Technical Systems Integratoss LLC (TSI),* a Georgia-based education solutions company, and New York-based *Keenan and Keenan Group (KKG),* an education consulting company. Both companies have a combined turnover of $25 Mn, with an average EBIT margin of 16%. Together, they cater to the needs of about 1,500,000 students across 1,500 schools in the US. Transaction Note TSI in operation since 2002, provides Education Solutions and IT services, with primary focus on the sales, delivery, installation and management of advanced technology assets towards the K-12 and Higher Education markets. TCI has partnerships and alliances with companies like Cisco, Del, Intel, Microsoft, Nortel and Montana State University to provide solution to its various customers. It covers 100 districts across 25 States in the US. KKG in operation since 1981 operates as a provider of highly skilled and speciaiized resources, with primary focus on providing trained consultants and staff to educational institution. Core Projects and Technologies Limited, incorporated in 1985, provides software solutions and services mainly to the education industry. Last year, CORE had acquired K-12 division of *Princeton Review*, a US-based education company for $20 Mn. It is also planning to spend Rs.1000 Cr ($213 Mn) to build schools in India which will be funded through a 70:30 debt, equity mix. It is bidding for projects in India to build schools as state and federal governments increase spending on education. Recently, Core Projects and Technologies’ US subsidiary, Core K12, bagged a $24 Mn order (a five-year deal) to design and implement a comprehensive formative assessment program for 375 schools covering 700,000 students from the *Los Angeles Unified School District (LAUSD).* Core Projects posted a net profit of Rs.43.29 Cr for the quarter ended 30th June 2010 as against net profit of Rs.40.39 Crore for the previous corresponding quarter, a rise of 7.25 %. It total income recorded a growth by 17.50 % to Rs.220.05 Cr as compared to Rs.187.30 Cr for the previous fiscal quarter. Thie year in May, it raised $75 million through FCCB issue. *Standard Chartered Bank* was the sole book runner to the issue. *Ace India Ltd* had announced to acquire higher educational institutions in UK and Europe to expand its global footprint. -- 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.
