Lead acquires Pearson's K-12 learning business in India

Hyderabad: Lead, India's largest school edtech company announced that it has entered into an agreement with Pearson, the world's leading learning company, to acquire its local K-12 learning business in India. With this acquisition, Lead will immediately expand its reach to over 9000 schools and will further enhance its product portfolio to cater to the entire spectrum of more than 5 lakh private schools in India.

Sumeet Mehta, Co-Founder and CEO, Lead, said: "Lead's mission is to bring excellent education to every child. School Edtech is poised for sustained growth post Covid and with the acquisition of the local K-12 learning business of Pearson India, we will be able to reach more schools and students in the service of our mission to provide excellent education to every child. This acquisition will unlock synergies and build on our combined knowledge, experience and technology strengths to bring 21st century School Edtech innovation to India's schools."

In its K-12 learning portfolio, Pearson India caters to private, English medium CBSE and ICSE schools offering high quality blended learning solutions (books + digital) ensuring learning continuity at home; and teacher resources. Lead'sacquisition of Pearson's local K-12 learning business in India is being funded through a combination of new fundraise and internal accruals. The acquisition, which has been approved by the Board of Directors of both companies, is subject to customary closing conditions and is expected to be completed by Q1 CY 2023. EY was the exclusive financial advisor to Lead on the transaction.