Veranda Learning steps into the Preschool Segment

Veranda Learning Solutions, an Edtech company has stepped into the test prep and preschool segment with the acquisition of Hyderabad-based test prep institute T.I.M.E (Advanced Educational Activities Private Limited). According to the reports, Veranda Learning acquired T.I.M.E for a valuation of ₹287 crores. This is Edtech company’s first acquisition since it went public last month on the Indian bourses at a premium of 20%. Since its listing, the share price of Veranda has increased by nearly 54%. With this deal, Veranda Learning has marked its entry into the business administration (MBA), National Eligibility cum Entrance Test (NEET) and Joint Entrance Examination (JEE) test-prep as well as the preschool segment.

After the acquisition, Veranda in a statement said, “This 100% acquisition will be in a phased manner with 80% of the outstanding capital along with management control in phase 1, followed by the purchase of the remaining 20% at the end of two years.” Veranda was founded by Suresh Kalpathi in the year 2018. The Edtech company provides online and offline coaching services for career-defining courses such as UPSC, chartered accountancy, banking, and government exams to students, graduates, professionals, and corporate employees. It provides its services through its four subsidiaries, named Veranda Race, Veranda CA, Veranda IAS, and Edureka, which is the customer-facing brand of Brain4ce Education Solutions.