RIL acquires 38.5-% stake in Extramarks Education
09 Nov 2011
Infotel Broadband Services Ltd, a subsidiary of Reliance Industries Ltd (RIL), has acquired a 38.5 pe rcent stake in school education and digital learning firm Extramarks Education Pvt. Ltd.
Infotel did not disclose the financial terms of the deal but said that the investment in Extramarks has been made through its affiliate company Reliance Strategic Investments Ltd.
Noida-based Extramarks provides online education based on CBSE, ICSE, NCERT curriculum.
Extramarks is an amalgamation of virtual classes and curriculum content support. In the form of extramarks live it offers e- tutoring support provided by real teacher through white board technology that enables a student to study using voice/text based chat, power point presentation and video streaming.
The investment will enable Extramarks pursue its growth plans in further developing services and wider market penetration.
Extramarks' digital distribution model will provide invaluable services to the student community across age groups including education support and study help at affordable prices.
