Veranda Learning Solutions to acquire seven education firms for Rs 400cr

Veranda Learning Solutions, an Indian educational technology company, is embarking on a series of acquisitions and investments in seven businesses through its fully-owned subsidiary, Veranda Administrative Learning Solutions, at a value exceeding INR 400 crores.

The entities being incorporated under Veranda Learning Solutions include Educare Infrastructure, Six Phrase, SmartBridge, Talent Academy & Publications, Phire Learning, and BAssure.

These acquisitions are anticipated to generate an EBITDA of INR 50 crores for the fiscal year 2023-2024, resulting in a proforma EBITDA of over INR 100 crores for Veranda Learning Solutions during the same period.

The acquisition of Educare Infrastructure will enable Veranda Learning Solutions to expand its presence in the K-12 school and college education sector. Leveraging its expertise in learning management systems through Veranda Labs and the synergies derived from its existing business, Veranda Learning Solutions can enhance its operations by providing management services to multiple educational institutions.

Veranda Learning Solutions has been serving schools and colleges, and with this new association, its portfolio will encompass esteemed institutions such as IIM Shillong, BVM Schools, E&ICT Academy IIT Guwahati, Rathinam College of Art and Science, Adhiparasakthi Dental College, Velammal Nexus School, XLRI, Purdue University (USA), Vivekananda College, Chettinad Public School, IIM Raipur, Goa Institute of Management, and Sastra University.

The integration of the Talent Academy & Publications and Phire Learning brands will significantly strengthen Veranda’s RACE business, which currently provides training for banking and government exams. Talent Academy & Publication, a well-known regional brand in Kerala, will empower Veranda Race to establish a leadership position in test preparation segments such as PSC, SSC, and related areas in Kerala.

Veranda Race already holds a prominent position as the undisputed leader in the Government Banking Test Prep Segment, and the collaboration with Phire Learning will allow Veranda Race to make substantial progress in the private banking test preparation category as well.

Phire Learning boasts an impressive track record of placing its alumni in leading banks such as IndusInd Bank, Kotak Mahindra Bank, CSB Bank, Yes Bank, HDFC Bank, DBS Bank, Utkarsh SF Bank, Axis Bank, Bandhan Bank, and DBS Bank.

The association with Six Phrase will grant Veranda Learning Solutions access to a vast and extensive client network spanning over 300 colleges. Six Phrase is actively involved in employability training, skill development, and career guidance services through collaborations with renowned educational institutions across nine states.

Moreover, Veranda Learning Solutions’ range of offerings will receive a significant boost through its investment in SmartBridge, a specialized edtech company that focuses on developing job-ready talent through its virtual internship platform, SmartInternz.

With over 800,000 student subscribers and more than seven years of experience in delivering large-scale skilling programs supported by top corporates, SmartBridge will enable Veranda Learning Solutions to expand its reach and tap into expertise in building effective learning solutions with the support of government skilling organizations and industry partners.

Lastly, BAssure will serve as Veranda Learning Solutions’ arm to provide skilled IT manpower to tech companies globally, allowing these companies to focus on their core competencies while leaving the skilling aspect to Veranda.

The integration with BAssure will transform Veranda Learning Solutions into a one-stop-shop for corporate learning and human capital needs, becoming an indispensable partner in organizations’ journey towards workforce excellence and organizational success.

Saradha Govindarajan — Veranda Learning Solutions Chief Financial Officer said: “Veranda is committed to building a company of repute that caters to the entire value chain in the education space. We would like to be part of students’ journey from schools, to test prep & colleges till the upskilling stage.

“This commitment is being showcased in the associations and ventures we are entering into. The assets fill the gaps in the value chain for us and allow us to go deeper and wider in the education segment.”