Bodhi Tree Systems, a newly formed Platform backed by James Murdoch and former broadcast executive Uday Shankar, has invests $600 million in Kota-based 34-year-old education company ALLEN Career Institute.
According to a person familiar with the deal, Allen’s founder Maheshwari family will retain control and run the business and the deal is expected to be completed in three months after regulatory approval.
Kota-based Allen Career Institute was founded in 1988 by Rajesh Maheshwari, It is an exam preparation firm that helps engineering and medical students to crack college entrance exams.
The company claims to have helped 2.5 million students in its lifetime and has a strong record of selection in exams like IIT JEE Mains & Advanced, NEET-UG, KVPY, and Olympiads.
“We have helped create hundreds of thousands of doctors and engineers, who contribute to building India and the society of today. Our partnership with Bodhi Tree is an essential ingredient in furthering our mission to significantly increase ALLEN’s reach and impact”, said, Keshav Maheshwari.
Bodhi Tree Systems is a newly formed platform between James Murdoch (founder and CEO of Lupa Systems) and Uday Shankar (former chairman of The Walt Disney Company Asia Pacific) and former chairman of Star and Disney India.
“Education is a critical consumer need, driven by its deeply transformative impact on lives and livelihoods of consumers. We believe that education is on the cusp of a technology-led renaissance that will fundamentally alter how education is imparted and increase its efficacy”, Murdoch and Uday Shankar said in a joint statement.
About Allen Career Institute
In 1988, Shri Rajesh Maheshwari started with just eight students and after a few months Dr. K.G.Vaishnava, the eminent professor of Biology also joined him. It was the only institute of its time that provided coaching for all Science subjects i.e. Physics, Chemistry, Biology, and Mathematics under one roof. This strong association became the foundation stone of the revolutionary Pre-Medical coaching institute of that time.
ALLEN is a symbol of a united family of four devoted brothers, which has grown up to a large group of 10015+ members as of date, with the trust of more than 12 lac + CCP Students since 1988. The Institute is in parallel with Indian values, spiritualism & hard work under the efficient directions of Shri Govind Maheshwari, Shri Naveen Maheshwari – with the pious wishes of mother Smt. Krishnadevi Maheshwari.
With this, the institute is on its “Path to Success…” by writing its success story and adding more episodes of splendid achievements year after year.