Veranda Learning acquires T.I.M.E
By MYBRANDBOOK
Edtech firm Veranda Learning Solutions Ltd is acquiring leading test prep firm T.I.M.E for Rs 287 crore. TIME is India’s leading test-prep institute headquartered in Hyderabad, with a pan-India presence operating through 188 centres, including franchisees spread across 98 cities in India.
The acquisition will be made in two phases, with Veranda taking over 80 per cent of the outstanding capital along with management control in the first phase, whereas the second phase will include the remaining 20 per cent at the end of two years.
is operated by Advanced Educational Activities Pvt. Ltd that offers training programmes for national and state-level entrance exams like CAT, MAT, CMAT, CLAT, IIT Foundation, JEE mains & advanced, NEET, state-level admission exams and international exams like GMAT, GRE, IELTS and TOEFL including campus recruitment training.
Manek Daruvala, Founder and Director of T.I.M.E., said, “We are delighted to be partnering with Veranda on the journey ahead that T.I.M.E. will be undertaking. We are confident that this will be a synergistic relationship and that much benefit will accrue to both partners. More importantly, we believe that it will also help us provide an even better product offering to our students.”
This acquisition will also allow Veranda to diversify into the pre-school segment via T.I.M.E. Kids which operates through 222 pre-schools across 56 cities, as well as the language training space via T.I.M.E.'s subsidiary Amoha Education that provides training in spoken English.
Veranda Learning Solutions offers training programmes for competitive exam preparation, including State Public Service Commission, banking, insurance, railways, IAS and CA, as well as a bunch of professional skilling and upskilling programmes in trending technologies.
Kalpathi Suresh, Chairman and Executive Director of Veranda, said, “The acquisition of T.I.M.E. allows Veranda to expand its national footprint with an asset that has known to have sent around 50% of all students enrolled with IIMs. T.I.M.E., which has been one of the pioneers of online testing methodology in India also gets to leverage Veranda’s core-engineering skills to make it the best in a hybrid offering which will now include best-in-class products for each of its programmes.”
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