Edtech Unicorn LEAD announces acquisition of Pearson’s local K-12 learning business
- ByStartupStory | January 6, 2023
LEAD, an edtech unicorn, has agreed to acquire Pearson’s local K-12 learning business in India.
While the deal value was not disclosed, the acquisition is expected to expand LEAD’s reach to over 9,000 schools.
Sumeet Mehta, Co-Founder and CEO, LEAD, said, “Our mission is to bring excellent education to every child. School Edtech is poised for sustained growth post-Covid and with the acquisition of the local K-12 learning business of Pearson India, we will be able to reach more schools and students in the service of our mission to provide excellent education to every child. This acquisition will unlock synergies and build on our combined knowledge, experience and technology strengths to bring 21st century School Edtech innovation to India’s schools.”
Pearson India’s K-12 learning portfolio includes private, English medium CBSE and ICSE schools, as well as blended learning solutions (books + digital) that ensure learning continuity at home and teacher resources.
LEAD is funding its acquisition of Pearson’s local K-12 learning business in India through a combination of new fundraising and internal accruals.
The acquisition, which has been approved by both companies’ boards of directors, is subject to customary closing conditions and is expected to be completed by the first quarter of fiscal year 2023. LEAD’s exclusive financial advisor on the transaction was EY.
Sumeet Mehta and Smita Deorah founded LEAD in 2012 with the goal of transforming primary education in India. It combines rigorously researched curriculum and pedagogy with cutting-edge technology to provide a seamless system of teaching and learning. LEAD’s integrated system is available in over 400 towns and cities throughout India, reaching over 1.2 million students and empowering over 25,000 teachers.
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