Pearson, the world’s leading learning company has announced the acquisition of the block of shares it does not already own in TutorVista, to complete 100 per cent ownership of the Bangalore-based learning services company.
Pearson, the world’s leading learning company has announced the acquisition of the block of shares it does not already own in TutorVista, to complete 100 per cent ownership of the Bangalore-based learning services company.
In 2009, Pearson had acquired a minority stake in TutorVista, increasing its holding in 2011 to a controlling position of 80 per cent.
TutorVista was founded in 2005 by Krishnan Ganesh, one of India’s best-known entrepreneurs, and today has 1,300 employees across online tutoring, school management, ICT and test prep and tuition. Mr. Ganesh and Meena Ganesh, who leads TutorVista’s domestic operations, will give up all management roles in the company they jointly founded.
Pearson has named Srikanth Iyer, a senior member of the existing management, as new CEO of TutorVista.
Pearson’s complete takeover of TutorVista forms part of a wider strategy of building significant education services businesses in fast-growing emerging markets.
TutorVista boasts an impressive delivery network for fast-growing education services such as school management, online tutoring, and technology based classroom solution for schools and test prep market.
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