Q1 FY 13
Company has entrusted Mr. Ashish Gupta, Senior Vice President – Finance, with an interim responsibility to perform the functions of CFO. Ashish, a Commerce Graduate and Chartered Accountant, has nearly 17 years of work experience spanning diverse range of businesses. He has held senior leadership positions across Finance, Accounts, Taxation and Assurance Functions. During his career, Ashish has worked with various multinational companies including Price Waterhouse, Grant Thornton, DHV B.V. The Netherlands. Prior to joining Educomp in January 2011, he was working with SPML Infra Limited as Group CFO. Ashish will report to Mr. Sanjay Jain, Group CEO.Further, Ms Sangeeta Gulati, CFO of the company has resigned and since moved on to pursue different opportunities.
Educomp bags Rs.209 crores ICT @ Schools Project from Government of Assam.
The project will benefit over 650,000 students across 1,054 Government Schools.
04th April 2012: Educomp today announced that it’s ICT Division Edureach has won an order worth Rs.209 crores from the Government of Assam under the prestigious ICT @ Schools Project.
Educomp signed the agreement with the Assam Electronics Development Corporation Limited, Government of Assam, on 23rd March, 2012 for the implementation of Rajiv Gandhi Computer Education Program (RGCEP) under the GOI Revised ICT @ Schools Scheme in 1,054 Government High and Higher Secondary schools of the state. Over 650,000 students are expected to benefit from this program every year.
With the addition of 1,054 Government Schools in Assam, Educomp now reaches a total of 12,176 Government schools serving over 6.7 million students across 10 States in the country.
The project will be implemented under Build, Operate and Transfer (BOT) model for a period of five years where Educomp will provide an IT Lab, teachers, annual training workshops, web-based school management and monitoring software, multimedia educational content as per-state board curriculum covering core subjects like Mathematics, Social Studies, English & General Science as well as courses on Spoken English.
The project lays special emphasis on the quality of computer teachers to be engaged. They will be selected through a state level Computer Teacher Eligibility Test and performance review will be conducted annually through a state level online Computer Teacher Fitness Test. The students will get exposure to a wide range of IT Software and applications in Free Opensource Software and MS Windows platforms. The program for Classes VI and VII shall be on the lines of computer literacy and awareness, whereas for the higher classes, Computer Science shall be offered as an elective subject to students. The project will also facilitate Math and General Science learning through simulated Math and Science experiment kits.
Mr. Soumya Kanti, President, Edureach said, “At Edureach, we use technology innovatively to spread education across socio-economic strata and across geographical boundaries. We are pleased that over 650,000 students in Assam will now have access to computers and computer-aided learning as well as cutting-edge learning tools which will bring their learning on par with many of their more privileged city counterparts.”
The Public Private Partnership model has emerged as the most successful model for bridging the digital divide in the country and Educomp is leading the initiative in this segment with an impressive track record of implementing large scale projects under PPP model. Till date, Educomp has implemented ICT programs under the PPP model in 36,401 schools across 15 states. These educational programs involve comprehensive education infrastructure implementation, teacher training and content development projects and have overall had an extremely positive impact on raising learning standards as well as in reducing drop out rates among children in Government schools across the country.
Q4 FY 12
Educomp Solutions Ltd. appoints Mr. Sanjay Jain as Group CEO
Gurgaon, March 13, 2012 – Educomp Solutions Ltd., India’s largest Education Company today announced the appointment of Mr. Sanjay Jain as Group CEO. Sanjay brings nearly 20 years of international work experience spanning diverse range of businesses. Prior to joining Educomp, he was working with Tulip Telecom Limited as CEO and has earlier worked with leading industrial houses like Eicher, Avantha (Gautam Thapar group of companies) and Essel Group (Zee network group). Sanjay has a rich experience of leadership roles across strategy, execution and consolidation of operations. Sanjay will report to Shantanu Prakash, Chairman and MD of the company.
Shantanu Prakash, Chairman and MD of the company said, “Starting in 1994 as a company providing computer labs and training to schools, Educomp has come a long way to becoming the largest education company in India today reaching almost 20 million learners and educators across the world. It has been a remarkable journey and I am sincerely grateful to all our stakeholders who have helped make it a reality.
The next phase in the evolution of Educomp is the phase of growth with consolidation of operations. I am delighted to bring in a CEO to strengthen the leadership of Educomp to address some of the current challenges and opportunities that we face today. It gives me great pleasure to introduce Sanjay Jain as the new CEO of Educomp Solutions Ltd. with immediate effect. In his new role, he will lead the growth and profitability of the business, consolidate operations, drive synergies across businesses, implement processes & systems and focus on free cashflow generation.
Q2 FY 12
Educomp adds 582 Schools under ICT implementation; receives order worth 60.72 crores from Chhatisgarh Government.
07th September 2011: Educomp today announced that it’s ICT Division Edureach has added 582 Government Schools to their existing portfolio of schools under ICT implementation across India. Now Total Number of schools under Edureach Portfolio is 11,154 and Company is working with 12 State Governments. Educomp signed an agreement with Directorate of Public Instruction, Government of Chhattisgarh on 27th August, 2011 for the implementation of ‘ICT@Schools’ Project in 582 Government High and Higher Secondary schools in Sarguja Zone covering six districts- Sarguja, Jashpur, Korba, Korea, Raigarh and Janjgir Champa. This progam is expected to benefit 3.25 lakh learners from class IX to XII every year. The total value of the order is Rs 60,72,00,600/-(Rupees Sixty Crores Seventy Two Lakhs Six Hundred Only). The project will be implemented under Build, Own, Operate and Transfer (BOOT) Model for a period of five years including supply and maintenance of Computer Hardware, Software and Lab Accessories, provision for computer faculty in each school, training of school teachers every year, provision of computer educational services including deploying & running school management software, multimedia educational software as per-state board curriculum in 370 learning areas covering core subjects like Mathematics, Social Studies, English and Science, safe usage of internet and awareness on cyber-crime. Mr. Soumya Kanti, President, Edureach said, “At Edureach, we use technology innovatively to spread education across socio-economic strata and across geographical boundaries. We are pleased that over 3 lakh students across these 582 schools in Chhatisgarh will now have access to computers and computer-aided learning which will bring their learning on par with many of their more privileged city counterparts.” The Public Private Partnership model has emerged as the most successful model for bridging the digital divide in the country and Educomp is leading the initiative in this segment with an impressive track record of implementing large scale projects under PPP model. These educational programs involve comprehensive education infrastructure implementation, teacher training and content development projects. ICT in education, especially computer-aided learning has overall had an extremely positive impact on raising learning standards as well as in reducing drop out rates among children in these schools across the country.
Management of the company has decided that in view of the present capital market conditions, it is deferring its proposed equity offerings. Management estimates that it will be comfortably able to meet future obligations falling due in July 2012 from a combination of internal accruals/ external commercial borrowings ( ECB)/ debt linked structures subject to regulatory and shareholder approvals as applicable.
Educomp in a tie-up with Sri Kanchi Kamakoti Peetam: to set up 100 Schools across India
17th August 2011: Educomp Solutions, India’s largest education company, through its subsidiary Educomp Infrastructure & School Management Ltd. (‘Educomp’), has entered into a Joint-Venture with Sri Kanchi Kamakoti Peetam to set up a 100 strong chain of schools across the country.
To be set up under the patronage of His Holiness Jagadguru Sankaracharya Sri Kanchi Kamakoti Peetam, these joint venture schools will be called Sri Kanchi Sankara Universal Academy.
The initiative was announced at Kanchipuram on the occasion of the 77th birth anniversary of His Holiness Sri Jayendra Saraswathi Swamigal of Sri Kanchi Kamakoti Peetam.
Sri Kanchi Kamakoti Peetam among other philanthropic initiatives, is focused on providing affordable education. It has already set up over 50 schools, 10 colleges and a Deemed University over the years.
This tie-up is a result of the common vision of both partners to aid capacity building in school education space and provide affordable value-based education to the masses. Under this tie-up, around 100 schools will come up across the country in the next couple of years.
Under the JV terms, while Sri Kanchi Kamakoti Peetam will provide the land and philosophical learnings for the school, Educomp will facilitate the JV by providing the pedagogically based educational intellectual property/educational content/ educational infrastructure.
Q1 FY 12
Universal Learn Today and Educomp in tie-up to jointly facilitate setting up of 30 Vasant Valley Schools across India.
New Delhi, 27th May 2011: Universal Learn Today Pvt. Ltd. (ULT), an India Today Group company and promoters of The Vasant Valley Schools (VVS), and Educomp Infrastructure and School Management Limited (EISML), a subsidiary of Educomp Solutions Ltd, have announced the signing of an agreement with the aim of jointly facilitating independent trusts to set up Vasant Valley Schools across India.
As per the agreement, ULT and EISML will exclusively partner to provide school management services, educational infrastructure as well as learning systems to set up thirty Vasant Valley Schools over the next several years. Vasant Valley Schools are today synonymous with high quality school education and rank among the top few schools in the country, while EISML is facilitating schools across India by providing expertise in school management as well as learning systems.
The new schools will be set up under the Vasant Valley brand and imbibe the pedagogical philosophy of Vasant Valley Schools while leveraging Educomp’s deep commitment to educational excellence. While the overall guidelines and framework of the curriculum, courses, contents, teaching methodology, academic practices and pedagogic strategies will be provided by ULT, they will be continuously augmented and enriched by the internal research and development efforts of both partners.
Speaking about the tie-up, India Today Group Chairman, Aroon Purie said, “It is with great pleasure that we announce this long-term partnership with Educomp at a perfect time when the demand for quality education in India is growing rapidly. We look forward to increasing our footprint and making Vasant Valley Schools accessible to more people across the Country. ”
Shantanu Prakash, Managing Director, Educomp Solutions Ltd, said “There is an urgent need for capacity building in school education space at all levels. Schools with fine traditions and impeccable track record should not ideally be restricted geographically but reach as many students as possible across the country. Our long term strategic vision is to enter into alliances with brand leaders in the K12 space to bring high quality education to a larger population. Our alliance with VVS is a strong step in that direction since they are today among the highest rated schools in Delhi NCR and indeed right up there in the top schools list in India”.
The first school under this collective partnership is expected to come up in Gurgaon in 2012.
About Educomp Solutions Limited
Founded in 1994, Educomp Solutions is a globally diversified education solutions provider and the largest education company in India. Over the years, Educomp has been at the forefront of pioneering initiatives in the education space. With an employee base of more than 10000 professionals, Educomp serves 26,000 schools and 15 million learners and educators in India as well as the US, Canada, Singapore and Sri Lanka. It operates through its various subsidiaries including authorGEN, Threebrix eServices, Learning.com, USA, AsknLearn Pte Ltd, Singapore, and via its associates such as Savvica Inc in Canada. The company works closely with schools to implement innovative models to create and deliver content to enhance student learning. Educomp's long undiluted focus on the K-12, curriculum design and teacher education space, in developing applications and products, has revolutionized leverage of information technology and Internet for education. Educomp has also embarked upon innovative IP-driven projects to set up pre-schools, high schools and professional and vocational education institutions. For more information, visit www.educomp.com.
About Educomp Infrastructure & School Management Ltd (EISML):
EISML is a subsidiary of Educomp and provides Educational Content / IP & Educational Infrastructure to a range of differentiated K+12 School brands in its quest to be the school service & Infrastructure provider of choice for all segments of society across India like ‘The Millennium Schools’, ‘The Takshila Schools’ and the chain of budget schools, ‘The Universal Academy’. EISML will facilitate launching of first, premium international residential school at Lavasa in August this year. EISML brings a new level of consistency to quality education delivery across segments and is committed to making high quality, life-long learning and education accessible to all segments of society across the country and in relevant geographies overseas.
Universal Learn Today is the learning division of the India Today Group that manages the Vasant Valley School. It provides consultancy in setting up schools, school improvement programmes and curriculum design. It has a progressive teacher training program that caters to various schools in India and overseas. Universal Learn Today has developed teaching materials and publications for education purposes. The learning environment created by Universal Learn Today has become synonymous with excellence in education.
Q4 FY 11
Educomp’s ICT Division Edureach has bagged two prestigious multimedia content development projects from the Government of Gujrat and Assam.
Commissioner of Schools, Education Department, Government of Gujarat on 25th February, 2011 awarded LOI to Educomp Solutions Ltd for development and installation of 2D/3D based multimedia content across all schools of Gujarat and development of web portal for learning management. The project is for five years including updation of content as per the change of state syllabus. The scope includes development of multimedia learning content in Gujarati medium for class VIII to X covering core subjects –English, Mathematics, Science and Social Studies in around 265 learning areas, development and conversion of content in MS Windows and Open Source platform; development of web portal with interface for using the multimedia base learning content; upgrade the developed learning content time-to-time with the change of syllabus and to build up the capacity of school teachers on the usage of ICT application to be developed for seamless transaction of classroom teaching learning process. This shall be used across 3500 schools.
In Assam, Educomp has signed an agreement with Axom Sarba Siksha Abhijan Mission, Government of Assam on 28th February 2011 for providing Computer Aided Learning solutions in 2199 Middle Schools of the state. Educomp will develop, supply and install multimedia based educational content for computer based education in Science, Mathematics and English in three vernacular languages-Assamese, Bodo and Bengali. The multimedia learning contents will be developed on 60 learning areas identified for Class VI & VII. Educomp will also build up the capacity of school teachers on usage of the multimedia learning content and its transaction during the classroom transaction process. This shall be used across 2199 middle schools. The Total contract value for both the contracts is Rs. 6.81 Crores
“Educomp’s ICT Division Edureach has added 540 Government Schools to their existing portfolio of 10,550 schools under ICT implementation across India. Now Total Number of schools under EduReach Portfolio is 11,090 and Company is working with 10 State Governments
Educomp Edureach has received the LOI on 9th March, 2011 from the Director Education (Secondary & Higher Secondary Education), Government of Maharashtra, for the implementation of ICT @ Schools Project - Phase 2 in two regions namely Nasik & Latur totaling 540 Secondary and Higher Secondary Schools covering class V to XII. The total worth of the order is Rs. 67.93 crores.
The project will be implemented in Build, Own, Operate and Transfer (BOOT) Model for a period of five years including supply and maintenance of Computer Hardware, Software and Lab Accessories, provision for computer faculty in each school, training of school teachers every year, provision of computer educational services including deploying & running school management software, multimedia educational software as per-state board curriculum, providing computer education, courses on spoken English communication skills, safe usage of internet and awareness on cybercrime.
Mr. Soumya Kanti, President, Edureach said, “At Edureach, we use technology innovatively to spread education across socio-economic strata and across geographical boundaries. We are pleased that around 2.7 Lakhs students across these 540 schools in Maharashtra will now have access to computers and computer-aided learning which will bring their learning on par with many of their more privileged city counterparts.”
The Public Private Partnership model has emerged as the most successful model for bridging the digital divide in the country and Educomp is leading the initiative in this segment with an impressive track record of implementing large scale projects under PPP model. These educational programs involve comprehensive education infrastructure implementation, teacher training and content development projects.
ICT in education, especially computer-aided learning has overall had an extremely positive impact on raising learning standards as well as in reducing drop out rates among children in these schools across the country.”
Announcement No 1
Press Release : Educomp Solutions picks up Majority stake in leading GATE prep company to support aggressive growth plans in Supplemental Education Market.
Announcement No 2
“Educomp Solutions Limited has entered into a contribution agreement (“Agreement”) in relation to the India Education Fund (a SEBI registered venture capital fund) (hereinafter referred to as the “Fund”). The Agreement records the Company’s commitment to invest Rs. 50 crores in the Fund as an Anchor Contributor. The other parties to this agreement are Shiksha Solutions Trustee Private Limited (the trustee of the Fund) and Educomp Investment Management Limited, the investment manager of the Fund. Educomp Investment Management Limited is a wholly owned subsidiary of Educomp Solutions Limited. The Fund is focused on making investments in the education and allied sectors.”
Announcement No 3
Educomp Investment Management Limited, wholly owned subsidiary of Educomp Solutions Limited has been appointed as Investment Manager to manage the investment of India Education Fund. The India Education Fund, has made an investment in Beacon Learning Private Limited (Beacon). Beacon is a management and services provider for higher education institutions, providing a range of specialized services designed to improve academic quality, industry relevance and employability. Its professional services are tailored to meet the needs of students, faculty and industry and make the education offered high quality, practical, and relevant to the needs of employers. Beacon’s reach currently extends to over 3000 students and 15 programs across India.
Beacon has built an ecosystem comprising of highly accomplished academicians, experienced industry leaders and corporate partners that enable it to develop and deliver innovative programs, curricula and training solutions for higher education institutions. Its vision and team are led by Mr. Mohan Lakhamraju, a computer science graduate of IIT Bombay with an MS from Berkeley and an MBA from Stanford Business School . His previous assignment was as Managing Director in Tiger Global. He has over a decade of rich experience in the areas of education and entrepreneurship.
Educomp and Zeebo Inc. Form Joint Venture to Launch First Wireless Educational Platform for Children in India.
Q3 FY 11
CDEL & Educomp Solutions Ltd reach exclusive licensing and distribution agreement
Beijing, PRC and New Delhi, India, October 12, 2010 – China Distance Education Holdings Limited (NYSE: DL) (“CDEL” or the “Company”), a leading provider of online education in China focusing on professional education, and Educomp Solutions (“Educomp”), India’s largest education company, today announced an agreement whereby Educomp, through its Singapore subsidiary AsknLearn Pte., has granted CDEL exclusive rights to license and distribute Educomp’s Smart Class®, Edulearn and Wizlearn products in the People’s Republic of China (excluding Hong Kong, Macau and Taiwan).
Educomp’s Smart Class®, Edulearn and Wizlearn products provide dynamic multimedia learning, teaching and administrative content and tools aimed at improving teacher effectiveness and productivity in-class, improving academic performance of students, and effectively managing school administrative processes. The solutions are primarily aimed at the primary and secondary school markets, and will significantly bolster CDEL’s primary and secondary school offering. As part of the agreement, CDEL will provide students and schools in China with access to Smart Class®, Edulearn and Wizlearn via its online platform.
Zhengdong Zhu, Chairman and CEO of CDEL, said, “I am pleased to announce our new partnership with Educomp, a leader in the development of dynamic, multimedia content and solutions for the primary and secondary education markets. As part of our growth strategy, we have successfully launched a number of initiatives to penetrate the large K-12 education market in China, including the development and roll out of a platform which allows courses taught by well known teachers in China to be recorded online and made available to schools and students across the country, even in remote areas. With this agreement, we can now offer participating schools in this program access to Educomp’s market leading education content and multimedia learning tools via our platform, a clear value-add which we believe will strengthen our offering and attract more students and member schools to our K-12 program.”
Shantanu Prakash, CEO and MD, Educomp Solutions Ltd, said, “China represents a large and growing market opportunity for Educomp, and we are excited to partner in this important market with CDEL, the leading online education company in China”. Rakesh Sood, Business Head – Asia Pacific for Educomp, added “The combination of our leading multimedia educational content with CDEL’s proven online platform and local market knowledge creates a robust and dynamic educational tool for students and teachers alike. We look forward to working together with our partners at CDEL to help drive the adoption of our products in China.”
About China Distance Education Holdings Limited
China Distance Education Holdings Limited is a leading provider of online education in China focusing on professional education. The courses offered by the Company through its websites are designed to help professionals and other course participants obtain and maintain the skills, licenses and certifications necessary to pursue careers in China in the areas of accounting, law, healthcare, construction engineering, information technology and other industries. The Company also offers online test preparation courses to self-taught learners pursuing higher education diplomas or degrees and to secondary school and college students preparing for various academic and entrance exams. In addition, the Company offers online foreign language courses, offline GaoKao retake courses and offline business start-up training courses. Further information is available at the investor relations website at http://ir.cdeledu.com.
About Educomp Solutions Ltd
Founded in 1994, Educomp is a globally diversified education solutions provider and the largest education company in India. The company has been at the forefront of pioneering initiatives in the education space over the years. With an employee base of more than 10000 professionals, Educomp serves 26,000 schools and 16 million learners and educators in India as well as the US, Canada, Singapore and Sri Lanka. Educomp has partnered with leading global education companies such as Raffles Corporation and Pearson to offer best-in-class higher education and vocational programs to students. Educomp's long undiluted focus on curriculum design and teacher education space, in developing applications and products, has revolutionized leverage of information technology and Internet for education. For more information, visit http://www.educomp.com/.
Educomp’s Smart Class® is a multimedia digital content and e-learning program consisting of curriculum based digital instruction materials designed to enable teachers to transact difficult curriculum concepts inside the class and has built-in student self-learning and assessment features that enhance and monitor comprehension by the students.
Edulearn is one of AsknLearn's flagship products. It is a comprehensive Learning Management System (LMS) that comes with an array of features that allow teachers to create a dynamic and vibrant e-learning platform for their students. The system comes complete with various reusable learning objects and pre-packaged content for students. EduLearn is designed to be used by Primary and Secondary schools.
Wizlearn is a full featured, scalable Advanced Learning Platform. It is a comprehensive solution that incorporates 2 systems into 1, a learning management system for the students and instructors, and also an Administrative Management system that manages staff, administration and learning resource matters. Wizlearn is compliant to major e-learning standards such as SCORM and QTI. It is also built on a scalable architecture that supports web farms and database clusters that can support large numbers of concurrent users. It also has multi-language compatibility which ensures that the system can be ported internationally. (www.asknlearn.com)
Q2 FY 11
Educomp Solutions picks up strategic stake in leading engineering test prep company.
Educomp investment in Vidya Mandir Classes Pvt Ltd aimed at making it India’s No.1 engineering preparation institute by further enhancing its reach and quality
New Delhi, August 11th, 2010: Educomp Solutions Ltd, India’s largest integrated education company, today announced that it has picked up a strategic stake in leading engineering test prep player Vidya Mandir Classes Pvt Ltd (VMC) for close to Rs. 34 crores. Founded in 1989, VMC is a premier test preparation institute for IIT-JEE (Joint Entrance Examination for Indian Institutes of Technology in India) and other engineering entrance examinations such as AIEEE, NSIT, DCE, BITS, etc.
Renowned for its pedagogy and innovative learning methodology, VMC has over the years successfully mentored thousands of IIT aspirants. In the last 20 years, over 60% of VMC students have made it to the IITs. Every year, thousands of students from across India approach and appear for the entrance test for admission to VMC Courses.
Educomp is already tapping the $1.7 billion test preparation segment at multiple points with an in-school VSAT based model, after school tuition based model and online presence. Post this alliance, there are immediate synergies with Educomp’s engineering test prep Leap program (already present in 12 cities via VSAT model), 251 centres for vocational and test prep business and 43 high schools. Educomp today reaches out to a total of around 14 million students with flagship Smart Class already present in 3,921 schools in India serving over 3.4 million students and another 2.4 million users of its various online businesses – a ready market for high quality Test Prep services.
“This is an extension of our strategy for consolidating our supplemental education business. Educomp’s leading edge intellectual property and expertise in distance learning and content development will help increase the quality and reach of VMC’s offerings” said Shantanu Prakash, CEO & MD Educomp Solutions Ltd. “Consumer spend outside formal education in verticals such as tutoring, career counselling, assessment, academic skills enhancement and admissions is growing significantly and Educomp is well placed to lead in these this market segments”, he added.
Over the past 22 years, VMC has become synonymous with success in the Indian Engineering Test Prep segment. Promoted by ex-IIT rank holders, VMC is known for its high quality coaching, disciplined teaching methodology, strong satisfaction among students, authenticity and transparency. The institute is also credited with introduction of innovative methodologies in the test preparation segment- VMC was the first to introduce an entrance test and also the first to introduce online assessment, analysis and problem solving system in IIT JEE coaching.
“Post this alliance, VMC will work closely with Educomp to extend the benefits of its learning methodology and pedagogy to students across the country and also work with Educomp in developing innovative learning and technology enabled education solutions” said Shyam Mohan Gupta, one of the four promoters of VMC.
The supplemental education market is estimated at $8.2 billion at present, growing rapidly at 18% CAGR and expected to reach $19 billion by 2014. Educomp has already created a strong base with an investment of Rs 48 crores in last three years, creating scale through proven technology IP and platform created by WiZiQ, ETEN using Web 2.0, VSAT.
Founded in 1989, Vidya Mandir Classes is a premier IIT-JEE coaching organization. Over the years VMC has built an enviable reputation for providing high quality coaching to help students achieve success in IIT-JEE and other engineering entrance examinations such as AIEEE, NSIT, DCE, BITS, etc. Every year VMC reaches out to over 10,000 students. Its pedagogy and learning methodologies are recognised in the industry and proven by the high success rate of VMC students in IIT JEE and other engineering examinations.
Q1 FY 11
“Educomp bags Rs. 51.14 crores contract from Bihar Government; Expands reach to over 15000 Schools across India.
Educomp Solutions Ltd, India's leading education company has bagged order worth Rs 51.14 crore from Bihar Government to introduce computer education in 600 Senior Secondary Schools across rural and urban areas in the state. This will cover over 1.5 lakh students in class 8th to 12th.
Soumya Kanti, President, Edureach (Educomp’s ICT Division) said, “We have signed an agreement with Bihar State Electronics Development Corporation Limited, for Implementation of Computer education in 600 schools across 13 districts in Bihar under the ICT @ School Project for the period of three years on BOOT basis.”
Key Deliverables include supply, installation, maintenance of IT infrastructure and computer education services in 600 Schools across rural and urban areas of the state in an efficient and effective manner on Build Own Operate & transfer (BOOT) basis. Project involves setting up a call Centre in Patna for monitoring the project. Educomp will also provide computer training to five government teachers per school covering all areas in computer literacy & computer education for a period of 30 days each year during mid term & summer vacation.
Educomp is today a clear leader in the area of ICT in education. With the current project, the total number of schools under ICT implementation across India stands at more than 15,000
The Public Private Partnership model has emerged as the most successful model for bridging the digital divide in the country and Educomp is leading the initiative in this segment.
ICT in education, especially computer-aided learning has overall had an extremely positive impact on raising learning standards as well as in reducing drop out rates among children in these schools across the country.”
Educomp and Lavasa Corporation have announced the signing of an agreement with the aim of jointly facilitating independent trusts to set up four educational institutes at Lavasa.
Educomp Solutions Ltd, India’s largest education company, is facilitating schools across India via its subsidiary Educomp Infrastructure and School Management Ltd (EISML), by providing expertise in school management, educational infrastructure as well as learning systems.
Lavasa Corporation is building post-independence India’s first and largest Hill City 45 min from Pune and a 3 hour drive from Mumbai in the Sahayadri Mountains. Conceptualized as a self contained city, Lavasa will offer a wide array of world class business, educational, recreational and rejuvenation facilities.
To begin with, the Joint Venture will facilitate setting up an international residential school in partnership witih independent non profit organisations. This school is proposed to commence operations in this year itself. JV also plans to facilitate establishment of two pre-primary schools and one more residential day school in the next three years.
These schools will be powered by Educomp’s innovations in technology and pedagogy and have access to some of the best trained teachers in the country. All the best practices in school education space, developed by Educomp over the years, will be available to these schools, making them centres of academic excellence. Educomp’s world renowned IPs like Smart Class and Smart Assessment System, digital content modules and structured learning system would all be implemented at these schools.
Speaking on the occasion, Mr. Rajgopal Nogja, President, Lavasa Corporation Ltd., said, “Our aim is to make Lavasa a city of life-long learning by bringing to our residents some of the best names in academia. Educomp is India’s leading K-12 education company and they bring to the table unparalleled value proposition. We are confident that this joint venture will be mutually beneficial and will take Lavasa a step closer towards becoming an educational hub of international repute”
Mr. Shantanu Prakash, Managing Director, Educomp Solutions Ltd said, “Educomp’s vision is to help build 150 world class schools by 2012 by provisioning infrastructure, educational content and learning materials. Our tie-up with Lavasa Corporation is part of our long term strategic vision to enter into alliances with leading Developers/Infrastructure companies to bring high quality education to a larger population.”
“..Millennium Schools stands for a scientifically developed Learning system which delivers sustainable learning outcomes for children of all ages. It is aligned to the innate learning abilities of children and encourages and motivates them to explore and identify their own talent and capabilities….” added Mr. Sharad Agarwal, Managing Director, Educomp Infrastructure and School Management Ltd.
Q3 FY 10
Shri Educare and Educomp to Jointly Set up Shriram Millennium Schools
Shri Educare Ltd (SEL), promoted by the Arun Bharat Ram family, founders of The Shriram Schools, and Educomp Infrastructure and School Management Limited (EISML) , a subsidiary of Educomp Solutions Ltd, have announced the signing of an agreement with the aim of jointly facilitating independent trusts to set up five schools over the next 2-3 years, leveraging each others strengths. SEL is essentially engaged in setting up K12 schools in India and abroad, providing teachers’ training and undertaking education consultancy, while EISML is facilitating schools across India by providing expertise in school management, educational infrastructure as well as learning systems.
To be called The Shriram Millennium Schools, the new schools will imbibe the core ideals enshrined in the pedagogical philosophy of The Shriram Schools (TSRS) while leveraging Educomp’s deep commitment to educational excellence exemplified through the Millennium Schools concept.
The first Shriram School was established in New Delhi in 1988; since then, they have carved out a unique space for themselves as institutions of excellence. In September 2009, TSRS was for the second year running, rated “the best day school in the country” by an independent, 15-city survey carried out by Education World magazine. The schools are well known for their value-based, innovative, caring and child-centred approach to educating young children.
While the overall guidelines and framework of the curriculum, courses, contents, teaching methodology, academic policies and pedagogic strategies will be provided by SEL, they will be continuously augmented and enriched by the internal research and development efforts of both partners.
Mrs Manju Bharat Ram, Chairperson of The Shriram Schools, stated, “The Shriram Schools have strived to provide quality education to their students for the last twenty years, and it is a matter of great pleasure and pride that we are taking forward our mission in partnership with a group that shares our vision”.
Said Shantanu Prakash, Managing Director, Educomp Solutions Ltd, “Educomp’s vision is to help build 150 world class schools by 2012 by provisioning infrastructure, educational content and learning materials . Our long term strategic vision is to enter into alliances with leaders in the school space to bring high quality education to a larger population. The Shriram Schools are today the highest rated schools in Delhi NCR and indeed one of the top schools in India".
“We plan to facilitate educational infrastructure in 5 schools in partnership with SEL over the next 2-3 years. The first two schools are coming up in NOIDA and Faridabad and will open for admissions by the next academic session” added Sharad Agarwal, Managing Director, Educomp Infrastructure and School Management Ltd.
Q2 FY 10
Sub Division of Shares
Board of Directors in their meeting held on 26 August, 2009 in order to improve the liquidity of the Company’s shares in the Stock market and to make it affordable to the small Investors has approved sub-division (stock split) of one (1) equity share of the face value of Rs. Ten (Rs. 10/-) each into Five (5) equity shares of the face value of Rs. Two (Rs. 2/-) each.The said sub division of shares shall be subject to the approval of Share holders of the company in the ensuing general meeting scheduled to be held on Saturday, 26th September 2009.
Appointment of Joint Statutory Auditors
Board of Directors in their meeting held on 26 August 2009 has approved appointment of M/s. Haribhakti & Co., Chartered Accountants & M/s Anupam Bansal & Co, Chartered Accountants as Joint Statutory Auditors of the Company.The said appointment of Joint Statutory Auditors shall be subject to the approval of Share holders of the company in the ensuing general meeting scheduled to be held on Saturday, 26th September 2009.
Appointment of Additional Directors
Board of Directors in their meeting held on 26 August 2009 has appointed two Non-Executive Independent Additional Directors on the Board of Educomp Solutions Limited. Profile of the Additional Directors appointed are as follows:
1. Mr. Rajiv K. Luthra
Mr. Rajiv K Luthra is Founder & Managing Partner, Luthra & Luthra Law Offices – one of the largest law firms in India and recipient of various National and International awards. Rajiv Luthra has been nominated as one of the world’s leading lawyers by Chambers - Asia Leading Lawyers, Asia Legal Pacific and IFLR 1000. The Lawyer.com included him among its top 40 ‘to have been making the biggest waves outside the UK .’ He ranked amongst ALB’s Hot 100 in recognition for his contribution to various sectors and was cited as ‘one of the most highly acclaimed legal experts in the Asia-Pacific region’ by AsiaLaw Leading Lawyers for the practice areas Capital Markets & Corporate Finance and General Corporate Practice.
With more than 2 decades of experience complex commercial transactions involving tax and a multitude of corporate and civil law issues, he has successfully concluded transactions on more than fifty infrastructure projects in Bangladesh, India, Nigeria, Nepal, Sri Lanka and the People’s Republic of China.
He is a member of various professional bodies such as the Supreme Court Bar Association, the Delhi High Court Bar Association, International Bar Association, the Inter-Pacific Bar Association, the International Union des Avocats, and the American Bar Association. He is a Fellow of the British Commerce Society and of the Royal Geographical Society.
2. Dr. Shayama Chona
Dr Shayama Chona, Padma Shri and Padma Bhushan Awardee, is the past Principal of Delhi Public School RK Puram, New Delhi - a world class institution. Her efforts to break the barriers of schools to include the poor and the handicapped are unprecedented. She has also launched major initiatives to strengthen teaching of Science, Computers and Information Technology in schools. She serves as a member on 97 Advisory Boards and Committees and is Trustee of the Nehru Bal Samiti and Special Olympics, Patron of ‘Concerned Action Now’, Vice-Chairman of the Society for Human Development, besides being on the Managing Committee of 46 schools and other educational institutions.
She is the proud recipient of 54 awards, the most prestigious being the Padma Bhushan in 2008 and Padma Shri in 1999 and two National Awards in 1994 and 1997 and one State Award in 1993 for her work in the field of education and social welfare. For over 4 decades, Mrs. Chona has served the society at large, with distinction and timeless dedication. Her mission to educate and empower both the well-to-do and the needy, the abled alongwith the disabled, and the ‘haves’ with the ‘have-nots’, has never known any boundaries, and has led to the full realization of the human potential. In the sum analysis, Mrs. Chona’s life may be best described as a confluence of deep and abiding compassion for all.
Dr. Chona has given concrete shape and direction to her transcendent principles, by setting up 3 schools for the mentally challenged: ‘Tamana Special School ’, ‘Nai Disha’ and the ‘ School of Hope ’. As their Founder, she has been working for the upliftment of the handicapped children since 1984, and celebrates humanity with the dictum, “Numberless are the world’s wonders, but none more wonderful than man”. Not only has her contribution been recognized and felicitated time and again, her commitment in the field of education and social welfare for over 4 decades has given concrete shape directly to the nation’s education policies and welfare programmes.
Company has no material association with Luthra & Luthra Law Offices in past and as on date. Post appointment the Board of Educomp Solutions consist of Seven Directors, out of which two are Executive Directors and five are Non Executive- Independent Directors. The Director appointed above shall hold office up to date of the ensuing Annual General Meeting of the Company.
Date of Annual General Meeting and Book Closure Date
Board of Directors in their meeting held on 26 August 2009 has fixed Saturday, 26th September 2009 as the date of the 15th Annual General Meeting of Educomp Solutions Limited.Register of Members and Share Transfer Register of the Company shall remain closed from 19th September 2009 to 26th September 2009 (both days inclusive) for Annual General Meeting and payment of final dividend on the Equity Shares of the Company for the year ended 31st March, 2009 if approved and declared at the ensuing Annual General Meeting to be held on 26th September 2009.
Q1 FY 10
Educomp Solutions announce Joint Venture with Pearson to support Vocational Learning in India
Educomp Solutions, India's leading education company has bagged Rs 83.82 crore order from Gujarat Government to introduce computer-aided learning (CAL) in Secondary/Senior Secondary Schools in the state. This will cover around 8,50,000 students in class 9th to 12th.
Soumya Kanti, President, Edureach (Educomp’s ICT Division) said, "We have signed an agreement with Commissioner MDM and Schools, Gandhinagar, Gujarat for Implementation of Computer Aided Learning in 1780 Secondary/Senior Secondary Schools in two Zones namely, North Gujarat (905 schools) and Saurashtra & Kutcch (875 schools) for the period of five Years on BOOT basis including supply of Hardware, Software, Manpower Services, Teacher Training and Maintenance of the Systems."
Q4 FY 09
“Company has received orders from State Government of UP and Assam for a total of 2042 schools. The combined worth of these orders are Rs. 120 crores.
“We are very pleased to achieve our target for this year, of 12000 schools under ICT implementation, a quarter in advance. Educomp is proud to partner with various state governments to bring the joys of technology-aided learning to children across the length and breadth of India”, said Mr. Shantanu Prakash, CEO & MD, Educomp Solutions Ltd.
Commenting on the order, Mr. Soumya Kanti, President-ICT at Educomp said, “These orders are a reaffirmation of Educomp’s leadership in the area of ICT implementation under public-private-partnership model. We are deeply committed to expanding our reach and empowering children in government schools to access high quality education on par with children in private schools.”
Educomp has received Work Order from Education Director (Secondary), Lucknow, Uttar Pradesh for implementation of Computer Education and Computer aided education in 1401 Schools in 4 Zones namely, Lucknow (372 schools), Meerut (380 schools), Jhansi (369 schools), Gorkhapur (280 schools) for the period of 5 Years on BOOT Basis.
Some of the key Deliverables of the UP order are to supply Computer hardware, software and connected accessories and provide Computer aided education in the specified Government/Government Aided High schools and Intermediate colleges from Classes VI to XII for a contract period of 5 years; to provide one full-time instructor at each school; to supply the courseware; to impart training; to make provision for electricity and Internet connection at each school and provide monitoring and management of Project for the Contract Period.
Educomp has also received Letter of Intent from Axom Sarba Siksha Abhijan, (SSA) Mission, Assam for imparting training and for engagement of Technical Para teacher in 641 Schools.
With these orders the total number of schools under ICT implementation in the Educomp portfolio has gone up to 12012.”
"MOU with Department of Rural Development, Government of Uttar Pradesh"
Educomp has signed an MOU with Department of Rural Development, Government of Uttar Pradesh to impart skill based training Programs for the unemployed and under –privileged in the State for a period of 3 years. This Initiative is step ahead toward emerging livelihood opportunities in both formal & informal sectors of the economy. Educomp will undertake skill training Programmes in all the 71 districts of Uttar Pradesh & will impart quality training of youth & would deploy competent trainers for imparting training as a part of its obligation. Educomp will leverage its k-12 competencies for empowering human resources for industry and self employment , & will also use research based transformative learning solutions for livelihood and career progression. Educomp will also identify various training activities based on market scan , industry interaction & job formation This new Initiative will facilitate Educomp to use its extensive k12 network in U.P to the optimum and would open bigger opportunities for providing training Programmes to a larger population of unemployed & under privileged youth across the country as a part of the large expenditure on skill development proposed to be made by the Government through its various skill training initiatives
Services agreement with Michael & Susan Dell Foundation.
"Educomp' has signed a services agreement with Michael & Susan Dell Foundation ,a private charitable Foundation, based out of United States to create a model to transform learning levels of poor children served by private schools in Hyderabad for an amount of Rs 4.78 crores for a term starting Sept 1, 2008 till March 31, 2012.
Educomp will implement the project "Gyanashakti", a sustainable and scalable model for transforming 6 private schools serving the poor, such that the learning levels of children attending these schools is significantly improved.
As part of the services , Educomp' will analyze the data on student attendance base ,enrollment / teacher profile / personality of school head in order to have an in-depth audit of whole school/ infrastructure etc . Educomp will also create work sheets for each subject to help student focus on concept development, will also develop science kits / mathematics kits etc.
All these efforts are aimed at improving student learning outcomes of children across grades 1-5 across all four subjects: _ English, Local language , Math and EVS by 20% -25% over baseline assessment every year. The total number of students to be impacted by this project each year shall be 1200+ in grades 1-5 across 6 poor private schools in Hyderabad."
Q3 FY 09
Work Order for Computer Aided Education for Government of Karnataka
Educomp has been awarded a work order from Commissioner of Public Instruction, Government of Karnataka for implementation of Computer aided Education in 708 PU colleges in Karnataka. The order is valued at Rs. 50.27 Crores to be executed over 5 years .
Educomp has also bagged an order for 347 Government hostels from Commissioner Tribal Welfare , Government of Chattisgarh for implementation of Computer aided Education Programme . With the above orders , the total number of schools in the Educomp portfolio has gone upto to 9970 and the total number of students served by Educomp will be now 6 million + in India itself. This order further reaffirms Educomp’s leadership in the ICT segment in India being the only company to reach almost 10,000 schools under contract.
Educomp is now executing public private partnership ( PPP) Programmes for imparting Computer Aided Education ( CAE) using its Multi Lingual Content , training Government teachers / providing staff & other deliverables as per tender specifications in 14 State Governments under various schemes including the Sarva Shiksha Abhiyan.
Acquisition of 51% stake in Takshila Management Services Private Limited.
Educomp has acquired a 51% stake in Takshila Management Services Private Limited , a company that specializes in setting up high quality schools in Tier II & Tier III cities across India . These schools to be called “ Takshila Schools” will have several unique features and be available at an affordable price point. . Currently Takshila Management Services Pvt limited own 6 parcels of land & it plans to set up 3 schools in Hoshiarpur (Punjab) , Ahmednagar (Maharashtra) and Gaya (Bihar)) to be ready for the coming academic year by June 2009 . The Company has plan to set up further 25 schools over the next 2 years. Educomp Millennium learning system shall be used in all the “ Takshila Schools “ as an integral part of the academic system.
"Educomp has successfully achieved financial closure of the debt funding for its Educomp Infrastructure & School Management Business with fully underwritten facility of Rs.725 Crore comprising Rs.100 Cr. as Non Convertible Debentures from Axis Bank and Rs.625 Cr as term loan facility from Axis bank and other Banks. The Company's K-12 business is proceeding per plan and company has started drawing on this line of credit"
"In response to queries from certain investors the company has Clarified that there has been no change to the promoter's holding in the Company in last Financial Quarter. Further the promoter group has clarified that it neither has been nor is in discussion with any entity to sell any portion of their shareholding in the Company."
Educomp’s Millennium Learning System in 3 more schools.
"Educomp’s Millennium Learning System, including its comprehensive school management services has been licensed by DPS Patna, DPS Pune and DPS Ludhiana. Educomp’s school management services will be used by these schools to upgrade the quality of services and improve learning outcomes. The Millennium Learning System is a structured school management system which includes Educomp’s own range of books, professional development for teachers, Smart_Class system, a comprehensive library of lesson plans and consultancy for and active management of the school quality. With this the number of schools in Educomp’s K 12 portfolio goes up to 11".
Board of Directors in its meeting held today:
1. In furtherance to shareholder’s approval through postal ballot on 24th may 2008, approved additional options viz., Qualified institutional placement (QIP) as per revised SEBI guidelines or Non-Convertible Debentures for raising funds and decided to take the approval of shareholders through postal ballot for the said purpose.
2. Approved ESOP plan 2008 and decided to take the approval of shareholders through postal ballot for the said purpose.
Q2 FY 09
Educomp signed an agreement with Department of State Education Research & Training (DSERT) , Government of Karnataka.
Educomp today has announced that it has signed an agreement with Department of State Education Research & Training (DSERT) , Government of Karnataka for implementation of Computer aided Education in 1571 Schools in Karnataka. The order is valued at Rs. 109 Crores to be executed over 5 years.
Educomp has also announced that it has signed an agreement with Government of Chattisgarh for imparting Computer AidedEducation in 52 hostels .
With the above orders , the total number of schools in the Educomp ICT portfolio has gone upto 8912. The latest wins will extend the reach of Educomp’s services to approximately additional 800,000 students , thus taking the total number of students served by Educomp to 5.8 million in India.
Educomp is the leader in public private partnerships for the Government School sector and its reach extends to 13 states in India , where state of the art equipment , multilingual content and experienced staff guide students to understanding difficult to master abstract academic concepts , thus reducing the drop out rate and enhancing learning outcomes.
Educomp Solutions partners with EuroKids International
-Educomp Solutions Ltd to invest Rs. 39 crores to acquire a 50% stake
Educomp grants stock options
Remuneration committee , in its meeting held on 22nd August 2008 has granted 74502 stock options to the eligible employees of the company/subsidiaries of Company under ESOP Scheme 2007, w.e.f. 22nd August 08.
Acquisition of A-Plus Education Solutions Pvt. Ltd.
Educomp today announced the acquisition of a strategic stake in A-Plus Education Solutions Pvt Ltd. Educomp will invest Rs.10.75 crores over the next two years to acquire a 76% stake in the company. The company operating under the brand name of “Purple Leap” focuses on the area of improving the employability of college graduates. The company will focus on preparing students currently studying in over 15,000 colleges in the country and will make them workplace ready. Educomp will leverage its very large customer base across 5 million students in India, going upto 10 million by FY09-10, who face a dilemma to decide a career after they graduate from high school. Educomp will offer best-in-class career options for students so that they are economically empowered as well as are able to feed India’s large and growing talent gap.
Educomp’s vocational education strategy is founded on a multi-dimensional approach towards bridging the skills gap in India.
Educomp has taken a pioneering lead to establish public private partnerships by taking over 18 Vocational Training Institutes (formerly known as ITIs) of the Govt of India, as well as 12 skill development centers from the Govt. of Gujarat. Educomp will work directly with domain experts in retail, management, engineering and other aligned disciplines to engender an appropriate blend of Industry and Pedagogical best practices to such institutions.
On this occasion Shantanu Prakash, CEO Educomp Solutions said “Along with our recently announced partnership with Raffles Education Corporation for professional education , Educomp’s foray into skills completes our 360 approach to helping students achieve their fullest potential. Educomp is covers the entire gamut from Schools to Skills.
On this occasion Sharad Agarwal, President, Educomp Vocational Business said “The success of our initiatives lie in bridging the crucial gap between Quality and Access to bring transformative changes in lives of Indian youth through quality employment-centric Vocational Education. We seek to mitigate the current skill and competency gap across various vocations and disciplines by leveraging technology-enabled best practices in education. Our recent step in this direction is our eTEN system which will use Telecom and Satellite technology to bring best teaching talents to remote students.
Founded in 2005 the Purple Leap is a company focused on improving the quality of the recruits which are needed by Industry. Team Purple leap is run by a team of four dynamic young professionals namely Amit Bansal, Hemant Somani, Vinay Nijhawan and ChandraShekhar Shetty, all graduates from India’s premier institutions such as XLRI and IIM Bangalore. Currently there is a shortage of workplace-ready students and there is a high cost of Training. This results in a high turnover of the new recruits and also a large cost for the recruiting companies. The EduLeap career centers in the colleges shall have facilities for assessment and testing, impartation of training and have strong placement partnerships with Corporates. The Infrastructure would also include E learning and Online portal for complete student lifecycle including assessments, training and placement.
Q1 FY 09
Educomp has received Letter of Intent (LOI) from School Education Department, Government of Andhra Pradesh for implementation of Computer Aided Learning in 890 High Schools in Andhra Pradesh under BOOT model . Agreement with School Education Department, Government of Andhra Pradesh will be signed shortly.With this order the total number of schools in the Educomp portfolio has gone upto 7289.Educomp has also added one new state to its existing base of operations. Educomp now works with 12 states in India.
Educomp Solutions, Gurgaon based leading provider of information technology driven solutions for learning at school, said that it has secured contracts from 395 schools in the states of Rajasthan and Jharkhand under its Instructional and Computing Technologies (ICT) programme.
Under the ICT the company is partnering with central and state governments to bridge the divide of computer learning that exists between the private and the government schools.
With the new contacts in the two states, the company has tied up with total of 6,399 schools in eleven states of the country. " Many new states are continuing to choose Educomp's ICT programs which enable students to achieve designated learning outcomes by leveraging Educomp's intellectual property and digital content libraries," said Shantanu Prakash, CEO of Educomp.
Board of Directors in its meeting held today i.e 02nd June 2008, has decided the following:
1. Pursuant to the shareholders’ approval dated 24th May 2008 through postal ballot for raising funds upto US$ 500 million through FCCB/ADR/GDR/QIP , the Board has decided to raise upto US$ 250 million through issue of Global Depository Receipts (GDR) (“GDR Issue”) including a green shoe option (if any) of upto 15% of the size of the issue.
2. In addition to the use the proceeds of proposed GDR Issue for Company’s Smart Class and ICT business segments (as approved by the shareholders in their resolution dated 24th May, 2008), the Board has decided to take the approval of shareholders in the forthcoming Annual General Meeting of the company for using the proceeds of proposed GDR Issue for following additional purposes:
Educomp Solutions Ltd has informed BSE that Educomp has formed two Joint Ventures with Raffles Education Corp., Asia Pacific's largest private Education Group as follows:
- 50:50 Joint Venture in India & 50:50 Joint Venture in China.
This is to inform you that Educomp has acquired a 51% stake in Learning.com. Educomp invested a total of $ 24.5 million in the transaction, which included the purchase of existing shares as well as an infusion of new capital into the company. Learning.com is the premier provider of Web-delivered curriculum and assessment, and partners with schools and districts throughout the United States of America to improve student learning outcomes. Founded in 1999, it serves nearly two million students in schools across the United States. Its award-winning solutions are EasyTech, a proven, K-8 technology literacy curriculum that helps students develop and apply technology skills in math, language arts, social studies and science; TechLiteracy Assessment, an authentic technology proficiency assessment that provides educators with the data to understand how well students grasp foundational technology skills; and Aha!Math, an interactive K-5 supplemental math curriculum that supports teachers to improve students' foundational math skills while developing their higher level problem-solving and reasoning skills. Via this investment Educomp gets unparalleled distribution access to over 800 districts and 2 million students across the US and leverages its substantial content development and IP capabilities to reach out to North American markets. This is Educomp's second strategic investment after the acquisition of Ask n Learn, the leading K12 company in Singapore. Through this partnership Learning.com and Educomp together hope to bring the entire suite of Educomp's intellectual property to schools in the US as well as bring Learning.com's products to Educomp's 4 million users in India and SE Asia
"Company has on 23rd April, 2008, completed the dispatch of notice under Section 192A of the Companies Act, 1956, along with the postal ballot form and a self addressed business reply envelope in relation to Special Resolutions for the purpose of approval of raising of funds through ADR/GDR/FCCB/QIP and increase in authorized share capital of the Company.
The Board of Directors of the Company has appointed Mr. Sanjay Grover (FCA, FCS), a Practicing Company Secretary as the Scrutinizer for conducting the Postal Ballot in a fair and transparent manner. Members are requested to note that the postal ballot form duly complete and signed should reach the Scrutinizer not later than the close of working hours on Friday 23rd May , 2008. All Postal Ballot forms received after the said date will be treated as if reply from such Members has not been received. The result of the Postal Ballot shall be announced by the Chairman or in his absence by any person so authorized by the Chairman, on Saturday, 24th May 2008 at 4.00 p.m. at the Registered Office of the Company at 1211, Padma Tower 1, 5, Rajendra Place, New Delhi-110008 .
A Member may request for a duplicate postal ballot form, if so required. The voting rights of Members shall be reckoned on the paid-up value of shares on the date of the dispatch of the notice."
Q4 FY 08
Educomp Solutions Limited has informed the Exchange "Mr. Anjan Dutta has resigned from Board of Directors of the Company w.e.f. January 29, 2008."
Educomp Solutions Limited has informed the Exchange that Educomp Infrastructure Private Limited ( EIPL), a subsidiary of Educomp Solutions Limited has entered into an collaboration agreement with Ansals Properties and Infrastructure Limited (APIL) along with its Associate (Knowledge Tree Infrastructure Limited) for providing School Building and Infrastructure to EIPL. APIL & its Associates is one of the leading real Estate players engaged in business of constructing / developing properties and Infrastructure on various places and parcels of land & has expertise in the said field. EIPL along with its holding companies & associates has the requisite expertise of operating & managing Schools. Under the broad terms of the collaboration agreement APIL along with its Associates will build up the School Building and Infrastructure & shall lease out the same to EIPL for a period of 60 years. EIPL will further tie up with various independent trusts to operate the schools. EIPL also has an option to acquire a minority stake in KTIL. This Collaboration agreement will scale up the school roll out plan for EIPL & leverages the unique abilities of both of the companies put together.
Educomp Solutions Limited has informed the Exchange that : "IIT Chennai and Educomp School Management Ltd - a Subsidiary of Educomp Solutions Limited have signed a MOU to develop a world class Science Enrichment Program to enhance science education in schools. The program aims to develop Science Enrichment Materials which would include designing hands-on and computer based activities in Physics and Chemistry based on the CBSE syllabus from class 5 to 12 for implementation in the classrooms. This will include planning and developing problem based worksheets and activities which will make science fun and easy for children. It also includes training the science teachers to improve their skills as well as understanding using some of the best materials and getting advice from eminent professors from IIT. The activities would be both, Experiment - based as well as Simulation-based. Workshops with students based on the materials developed would also be a part of the entire methodology. This MOU will leverage the best of expertise of both Educomp & IIT Chennai with one focus i.e. to improve the quality of School Education."
Q3 FY 08
Educomp Solutions Limited has informed the Exchange that pursuant to Section 192A of the Companies Act, 1956 read with Companies (Passing of Resolution by Postal Ballot) Rules, 2001, company is seeking approval of Shareholders by way of Postal Ballot for.
Educomp Solutions Limited has informed the Exchange that Edumatics Corp.Inc, a wholly owned subsidiary of Educomp Solutions Limited based in Ventura, Calif , U.S.A has signed an joint development agreement with US based company Learning.com, to provide educators with innovative, Web-delivered curriculum solutions that support improved student learning outcomes.
Educomp Solutions Limited has informed the Exchange that at 13th AGM held on September 13, 2007, the members have approved modification to the ESOP Scheme 2006 with respect to vesting period and vesting percentage for the stock options granted by the Company to its employees. These modification will be applicable w.e.f. April 1, 2008.
Educomp Solutions Limited has informed the Exchange that: "Company is making its foray into formal school management with launch of The Millennium Schools. Millennium Schools will be powered by the Millennium Learning System (MLS), India's first fully integrated learning delivery system for Schools developed by the Company.
To be set up across Indian cities by independent trusts and societies, The Millenium Schools will incorporate unique blend of global best practices in education and inherent strengths of Indian education system with the added advantage of MLS, the Company's cutting-edge proprietary learning system for schools.
MLS was formally released on the occasion by Prof. B P Khandelwal, former Chairman of CBSE.
Millennium Schools will be founded on - a culture of innovative thinking, modem application of technology in traditional Systems of education and a pioneering zeal in fashioning students for an increasingly competitive world of the future.
Millennium School will be powered by MLS. MLS is a result of intensive R&D involving over 80 man years of work, where the Company's research team studied the existing system and researched on ways to make education cater to the future needs of both the society and the individual child. MLS will be exclusively implemented in The Millennium Schools.
The vision of The Millennium Schools is to unleash inherent potential and talent of each child, nurture lifelong learners who would be leaders of tomorrow. This vision is reflected in their slogan - "School built for only one child - Yours". Personalised learning to cater to the learning style of each student is what the Millenium school be catering to.
Millennium Schools will introduce for the first time in India - a unique and structured Talent Development Program that will seek to nurture the inherent talent in each child in the early part of their schooling life.
Educomp Solutions Limited has informed the Exchange that Educomp has signed an Memorandum of Understanding (MOU) with Raffles Institution, Singapore. The scope of services would include consultancy advice & services of Raffles Institution for schools set up by Educomp through its related entities. The essence of this MOU is to bring the best of global education in India. Raffles institution is the leading school in Singapore and renowned for its innovative practices and its curriculum.
Educomp Solutions Limited has informed the Exchange regarding a News item on the company, in DNA Money dated September 28, 2007. In this regard the company has clarified as follows: "The article had alleged that the company had made an error in accounting for the options granted under ESOP 2006. The article has incorrectly assumed that ESOP 2006 plan was approved on 13 Sep 2007. We wish to clarify that ESOP 2006 was approved by the shareholders on 24 August 2006 and the options under the plan were granted on 1st April 2007. As per Indian GAAP, option expensing is done at the difference between the market price (CMP) on grant date and the exercise price. CMP on the grant date was Rs 959. The resultant difference of Rs 834 has been expensed off in the Profit & loss account. This is in full compliance with I-GAAP and APB opinion 25 of US- GAAP. The news article and the analyst report cited in the said news article have, therefore made an erroneous conclusion based on an incorrect calculation of fair value of the options. The analyst report has also recently (September 28, 2007) published an Errata clarifying their report and admitting their error. Shareholders and analysts may contact Ms Sangeeta Gulati for any further information and clarifications in this regard".
Q2 FY 08
Educomp Solutions Limited has informed the Exchange that: "Educomp has acquired 70.05% equity in Savvica Inc. based out of Toronto, Canada, Savicca is a leading e-Learning company focused on web based learning management and education communities. Savicca own a next generation platform for rapid creation and deployment of scaleable education communities. Educomp's investment in savicca is to leverage its Internet based competencies in the areas of community building, online tutoring, web based learning, and digital content".
Educomp Solutions Limited has informed the Exchange that: "Educomp has entered into a partnership with Microsoft to make available Educomp's graphical curriculum content on the XBOX360 platform. This unique agreement a first of its kind in India will progressively make available Educomp's large and unique content libraries to the home segment to help improve the academic proficiency of students in a Smart format like the XBOX360".
News Verification : The media had reports that Educomp Solutions Limited may announce a stock split. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Educomp Solutions Limited has vide its letter inter-alia stated, "We would like to point out that this information is incorrect. The statement has not been released by our Company and is carried out without any verification or clarifications from the Company officials."
Educomp Solutions Limited has informed the Exchange that: "Educomp has acquired an 51% strategic stake in AuthorGen Technologies Pvt Limited. Authorgen Technologies is a pioneer and leader in the area of web 2.0 platforms for online learning. Their leading portal Wiziq.com connects students and teachers from around the world. The platform is equipped with a state-of-the art virtual classroom with audio-video communication capabilities and runs in any web browser and on any operating system. This investment will enable Educomp to leverage & consolidate its position on online tutoring by having access to key technology competence and student teacher marketplace models."
Educomp Solutions Limited has informed the Exchange that "Educomp has signed an agreement with the Government of Chattisgarh on 20th July 2007 for implementation of Computer Aided learning in 323 locations for Pre Metric / Post Metric students across 8 districts in the State of Chattisgarh on BOO (Built, own & operate) model".
Q1 FY 08
Educomp Solutions Limited has informed the Exchange that: "We had successfully completed the issuance of our zero coupon bond Convertible Bond Issue amounting to US$ 80 million. The terms for their US$ 80 million bonds due 2012 (the "Bonds") have been fixed as follows:
Educomp Solutions Limited has informed the Exchange that Educomp solutions Limited has signed the sale and purchase agreement with a majority of the shareholders to acquire Ask n Learn Inc., a leading education technology company headquartered in Singapore. Educomp has set up an SPV to complete the acquisition. The total acquisition price is Singapore $ 5.98 million in cash in addition to options worth S$ 1.05 million. This acquisition will provide Educomp a substantial share of the education market in Singapore and add over 100 schools to its portfolio as well as serve as a platform for penetration into the larger APAC region. This acquisition will also bring synergies in content development and marketing at both ends.
Educomp Solutions Limited has informed the Exchange that: "Educomp solutions Ltd has subscribed equity in Educomp Infrastructure Private limited (Edu Infra) & Educomp School Management limited (Edu Manage). Educomp is now in the process of making payment for the same. After the shares have been fully paid for, Educomp solutions limited will hold 69.38% & 68% of the outstanding paid up equity capital of Edu Infra & Edu Manage respectively. Educomp investment in EduInfra & Edu Manage will be Rs.50 Cr & Rs.5 Cr respectively. EduInfra will help set-up K-12 schools & EduManage will provide specialized products and services to the schools. EduInfra and EduManage will enable Educomp to emerge as a core education provider in India's K-12 school sector".
Educomp Solutions Limited had informed the Exchange that Educomp has been awarded a letter of intent (LOI) issued by Gujarat Informatics Ltd (GIL) on behalf of the govt. of Gujarat for the provisioning of Computer Aided Learning services in 2819 Schools, in the State Of Gujarat. The total size of the order is Rs.71.64 crores (USD 17.47 million) spread over a period of 3 years. After signing of this LOI, total Number of schools covered under ICT segment by Educomp now stands at 5627 in comparison to 2808 schools as on March 2007. The company has now informed the Exchange that: "We wish to clarify that Letter of Intent (LOI) has been signed by Gujarat Council of Primary Education on behalf of the Government of Gujarat instead of Gujarat Informatics Ltd (GIL)".
Educomp Solutions Limited has informed the Exchange that: "Educomp has been awarded a letter of intent (LOI) issued by Gujarat Informatics Ltd (GIL) on behalf of the govt. of Gujarat for the provisioning of Computer Aided Learning services in 2819 Schools, in the State Of Gujarat. The total size of the order is Rs.71.64 crores (USD 17.47 million) spread over a period of 3 years. After signing of this LOI, total Number of schools covered under ICT segment by Educomp now stands at 5627 in comparison to 2808 schools as on March 2007".
Educomp Solutions Limited has informed the Exchange "regarding Company's Investment in Threebrix E-services Pvt ltd, We would like to further clarify that Total investment in Threebrix E-services Pvt ltd is Rs. 2.5 Cr and it is likely to be earnings neutral in the short term."
Educomp Solutions Limited has informed the Exchange that "Educomp Solutions Limited has received Letter of Intent from Hartron, Govt of Haryana, for imparting CAL Programme in 716 Govt. Senior Secondary Schools in State of Haryana. The total size of the order is Rs. 18.30 Crores over a period of 3 years."
Educomp Solutions Limited has informed the Exchange that: "With a view to growing its supplement learning business, Educomp has made a strategic investment in ThreeBrix E-Services Pvt Ltd by acquiring 76% of the equity capital of the company. Bricks eservices owns "The Learning Hour" tutoring services and was started in 2005 by 3 IIM - Ahmedabad graduates, Chandan Aggarwal, Mohit Bansal and Riju Gupta and have gained early success in providing a high quality tutoring service in the Middle East and Dubai markets. The partnership between Educomp and 3 Bricks will leverage Educomp's large content library and pedagogical materials to provide tutoring in several ways, online, offline and through learning centers mainly focused on serving Indian students. Educomp estimates the size of the instructor led tutoring market as over 5000 crores in India and will seek to bring transformational products into this space to better serve over 75 million students in India who access after school tutors".
Educomp Solutions Limited has informed the Exchange that a Consortium led by Educomp Solutions Limited has received a letter of intent from AMTRON, Government of Assam under the RGCLP project for implementing computer aided learning in 100 High Schools in Assam. The total size of the order is Rs.13.05 Crores over a period of 5 years.
Q4 FY 07
Educomp Solutions Limited has informed the Exchange that: "Educomp solutions ltd has received an order from DSERT, Govt of Karnataka to implement ICT based education under Ict@schools project in 264 govt high schools in State of Karnataka. The total order value is approximately 18 crores over a period of 5 yrs".
Q2 FY 07
Educomp Solutions Limited has informed the Exchange that in continuation of Contract Agreement between Company and Uttar Pradesh Development Systems Corporation Ltd, Lucknow dated April 28,2005 regarding providing computer education in 101 Govt/Got. Aided schools of Secondary Education Department Govt of U P, Company has been awarded a work order by Uttar Pradesh Development Systems Corporation Ltd for providing Computer Education in additional 70 no. of Government & Government Aided schools of Secondary Education Department, Govt of U P for the period of five years thereby making the total no. of schools from 101 to 171.
Educomp Solutions Limited has informed the Exchange that the company, on July 26,2006 launched an exciting new initiative in online learning - Mathguru.com, an innovative 24x7 math-help program designed to help students solve every single math problem as per their curriculum, text books or syllabus on an anytime anywhere basis. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
Q1 FY 07
Educomp Solutions Limited has informed the Exchange that Company has signed two contracts one with Gujarat Council of Primary Education (GCPE) & other with Education Department of West Bengal State Details of orders are as follows:
1. Company has signed an agreement with Gujarat Council of Primary Education (GCPE), for providing certain equipments and providing Computer Aided Education Services, Educational content in 500 no. of Elementary schools in 25 Districts of Gujarat for the period of three years.
2. Company has signed an agreement with, School Education Department Kolkata, West Bengal for Providing educational services under School Computer Education Project ( Formerly CLTP in Schools) in 500 no. of Government & Aided Higher Secondary Schools in the state of West Bengal for the period of six years. The approximate aggregate and potential value of both the contracts put together is Rs.50 crores.