AviCollegeDekho, which is an education technology company, has now acquired the overseas admission consulting firm SFS Scholarship Facilitation Services in a cash and stock deal.
The company, as of now, did not close the financial terms. It is estimated that CollegeDekho has paid around INR 7 crore for the SFS, according to some of the sources.
“We are looking at expanding to the US and Germany with this acquisition,” said CollegeDekho chief executive Ruchir Arora said. It is evaluating more companies for acquisition, “to expand to new geographies or widen our offerings,” Arora said.
CollegeDekho has around 400 counselors and 500 employees. It provides services such as psychometric, free career guidance and aptitude tests, counselors, workshops on call as well as help for identifying the entrance and colleges examination.
The firm has secured as of now $11 Million since it came into inception in the year 2015 with around $8 Million in the latest funding round in May this year from some of the existing investors.
“We are profitable (both in terms of net and operational), and so our funds would be used for expansion, including acquisitions,” said Arora. The company is targeting Rs 50 crore in revenue this fiscal year. “We are growing at 100% each year in terms of revenue for the last three years,” he said.
Source: CollegeDekho