Mumbai's Core Projects acquires US educational service firms TSI and K&K
20 September 2010
Core Projects and Technologies Limited, the Mumbai-based global education company has today acquired two US-based education firms for more than $20 million.
Core Projects, the $145 million turnover company acquired Georgia-based education solutions firm Technical Systems Integrators (TSI) and New York-based education consulting company Keenan and Keenan Group (K&K).
The turnover of the combined companies are around $25 million, with an average EBIT margin of 16 per cent and together meet the needs of about 1.5 million students across 1,500 schools in the US.
TSI is a provider of 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.
KSG is a provider of highly skilled and specialised resources, and focuses on providing trained consultants and staff to educational institutions.
Core Projects operates in two segments, Local-Software Development India and EOU-Software Development. It focuses on providing technology-enabled education solutions to government bodies, schools and students.
The Company has provided its solutions to about 25,000 schools. Its subsidiaries include Core Education & Consulting Solutions in the US as well as in the UK, Core Education Infratech Ltd and Aarman Software Pvt Ltd.