Ebix Enters india’s E-Learning market With Acquisition Of Smartclass, Plans $100 Mn Investmentinc42.Com #Min_ReadFebruary 12, 2019
Post Acquisition, Smartclass Will Be Tightly Integrated Into Ebix’s Education And Elearning Initiatives In India
ItzCash parent Ebix has acquired elearning company Smartclass, which is run under Smartclass Educational Services Private Limited.
Post acquisition, Smartclass will be tightly integrated into Ebix’s Education and elearning initiatives in India and is seen as one of the many steps, that Ebix intends to take with an intent to invest up to $100 Mn in the sector.
Smartclass is one of the leading elearning companies engaged in the business of education services, development of education products and the implementation of education solutions for K-12 schools in India.
Smartclass’s 500-strong sales and marketing staff across the country have helped create a strong growth trajectory, in terms of top line and reach, as claimed by Smartclass officials.
“A few years back, we started investing in the healthcare, elearning sector through our Indian subsidiary acquiring Birmingham based Oakstone LLC .
Any business-like elearning where you can create an asset and sell it thousands of times, has strong possibilities of generating strong operating margins and cash flows,” said Robin.
He further believes that the strong focus of the Indian government as revealed in the recent edtech budget, the present nascent state of the country’s education infrastructure and the fast growth that high tech companies like Smartclass have experienced in India, the decision to take up a strong position in the country’s e-learning markets became an easy one for Ebix.
We look forward to becoming a part of the Ebix family and replicating Ebix’s international success over the last two decades, to build upon our existing strengths and take a leading place in India’s e-learning industry.”
Online education in India will see approximately 8x growth in the next five years, says a recent report by Google, KPMG.