Happiest Minds Technologies To Acquire 100% Stake In Edtech Firm Macmillan Learning
The company will be purchasing 1,00,000 equity shares of face value of Re 1 each in Macmillan Learning India from its existing shareholders.
IT firm Happiest Minds Technologies on Friday said it will acquire 100% equity in edtech firm Macmillan Learning India. The acquisition, which is valued at Rs 4.5 crore, is expected to be completed by April 30, 2024.
The company will be purchasing 1,00,000 equity shares of face value of Re 1 each in Macmillan Learning India from its existing shareholders.
Macmillan Learning India is a wholly-owned subsidiary of the Macmillan group, USA. It provides software development services to the Macmillan group and has been working as an offshore development centre.
"The acquisition of 100% equity interest in Macmillan Learning India further strengthens the already strong Edutech vertical of the company. It also makes the company a strategic partner for the Macmillan group which is a global leader in the business of learning, education and publishing," a company statement said.