Educomp to acquire StudyPlaces.com

Bangalore: Delhi-based e-learning solutions provider Educomp Solutions plans to acquire StudyPlaces.com, which is owned by Zaptive Internet Services. Under the deal, Educomp will buy the domain name and other existing contracts of Zaptive and will allot equity shares on a preferential basis of up to $1.5 million in exchange.

StudyPlaces helps students find, compare, evaluate and then select the right course, institute and country for their further study. In January 2008, StudyPlaces.com raised $3 million from venture capital firms Kleiner Perkins, Caufield and Byers (KPCB), Ram Shriram's Sherpalo Ventures and the internet company Info Edge India (the Naukri.com group), with each entity investing $1 million in the company.

Educomp Solutions has already acquired 51 percent stake in Learning.com for $24.5 million and 76 percent stake in LearningHour.com for Rs. 2.5 crore. UK-based publishing firm Pearson owns 50 percent stake in Educomp Solutions, which it had acquired in June 2009 for $17.5 million.