Mumbai-based ed-tech unicorn LEAD has agreed with learning firm Pearson to acquire its local K-12 teaching business in India. The acquisition is being funded through a combination of new fundraising and internal accruals. This is subject to customary closing conditions and is expected to be completed by Q1 of CY 2023, as per reported by BW Disrupt.
The acquisition is expected to increase LEAD’s reach to over 9,000 schools, it said, adding that the firm will further enhance its product portfolio to cater to the entire spectrum of over 5 lakh private schools in India.
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Under its K 12 Learning portfolio, Pearson India provides blended learning solutions and teacher resources to private, English medium CBSE, and ICSE schools.
Pearson serves clients in nearly 200 countries with digital content, assessments, qualifications, and data.
LEAD was founded in 2012 by Sumeet Mehta and Smita Deorah with a mission to transform school education in India. They combine technology, curriculum, and pedagogy in an integrated system of teaching and learning, thus improving student learning outcomes and teacher performance in schools across the country.
LEAD’s innovative and highly effective integrated education system is available in 400+ towns and cities across India, reaching out to over 1.2+ million students and empowering over 25,000 teachers.