Aakash Educational is now reportedly in talks to acquire a majority stake in the Delhi based educational technology platform Meritnation.
According to the report, Aakash is looking to buy around 66% stake, which is as of now held by the Info Edge Ltd, in Meritnation for INR 50 crore.
Moreover, this is the first acquisition deal for the Aakash after it has secured investments from the private equity investor Blackstone in the month of October 2019.
The company executive revealed that the acquisition would help the company to accelerate progress in the digital side of the business. Furthermore, he also believes that the Meritnation will help Aakash in strengthening offline offerings of Aakash across the classroom entries.
Aakash Chaudhry, CEO of Aakash said, “We are continuing to evaluate several acquisition opportunities in the edtech space as part of our digital growth strategy, so that we can make our well-crafted student performance journey more productive,” he added.