Veranda Learning Solutions, an online learning platform offering many career-defining courses in competitive exams training, has recently announced that it has acquired and invested across seven businesses to “gain a deeper footprint in education space”. The company’s exchange filing mentioned that Veranda Learning has acquired or invested in Educare Infrastructure, Six Phrase, Smart Bridge, Talent Academy, Talent Publications, Phire Learning, and BAssure. “The total valuation of these acquisitions is over Rs 400 crore”.
Founded in 2018 by the Kalpathi A.G.S. Group, Veranda Learning Solutions offers courses that prepare students for various competitive exams in India. The platform provides cutting-edge learning experience through its advanced programs in Management, Technology, Leadership, and Marketing, amongst others. In association with the leading universities and institutes, the startup has crafted result-oriented and interactive programs for students to upskill and fast-track the way up the career ladder.
According to the company, these acquisitions would deliver an EBITDA of Rs 50 crore for F.Y. 23-24. These associations will take the proforma EBITDA for Veranda Learning to over Rs 100 crore for F.Y. 23-24. Acquiring Educare Infra would help Veranda expand its access to the K-12 school and college education segment, the firm further said, adding that with its expertise in learning management systems through Veranda Labs and synergies from existing Veranda business, it can scale its operations to providing management services for multiple schools.
Speaking about the acquisition, Executive Director cum Chairman of Veranda Learning, Suresh Kalpathi, said:
The journey of any student begins in the K-12 space. We believe it is an important part of the ecosystem we operate in and associations like Educare will help us build in that direction.
Integrating Talent and Phire brands will boost Veranda RACE business, which currently trains students for banking and government exams. The startup added that Talent Academy and Publication, a well-known regional brand in Kerala, would enable Veranda Race to attain a leadership position in P.S.C., S.S.C., and other related test-prep segments in Kerala.
On its association with Six Phrase, Veranda Learning said this partnership would give the company access to the Coimbatore-based firm’s deep and widespread clientele network, spanning over 300 colleges. Six Phrase was founded in 2019 and is South India’s most extensive skill development and career development enterprise. The company aims to provide quality and affordable education to fulfil employability dreams. The services offered at Six Phrase include placement/employability training, technical training, aptitude and soft skills training, a learning management system (L.M.S.), and more.
CFO of Veranda Learning, Saradha Govindarajan, added:
These associations will add value for the students across age groups. Veranda is committed to building a company of repute that caters to the entire value chain in the education space. We want to be part of students’ journey from schools to test prep & colleges till the upskilling stage.
Veranda Learning claims that a software company, BAssure, is its arm to provide a skilled I.T. workforce to tech companies worldwide, thereby ensuring that the companies focus on their core competency while leaving the skilling to the platform.
Chairman of Veranda Learning, Kalpathi, commented:
Each partnership is strategic. I am very hopeful that this move will bolster our efforts to remain the preferred choice across all education categories.
Chennai-based Veranda Learning had previously announced its acquisition of T.I.M.E. (Advanced Educational Activities Pvt Ltd), India’s leading test-prep institute, last year in April. Before that, it acquired Edureka, a live-instructor-led online solutions provider for the I.T. industry, for INR 245 crore (~USD 33M), in 2021.