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Pearson invests $30m in Indian firms
24.06.09 | Catherine Neilan
Educational publisher Pearson has increased its presence in India with an investment worth $30m (£18m) in two of the country's leading education companies. Pearson has acquired a 50% ownership stake in Educomp Solutions' vocational training business, through which it has established a joint venture to offer vocational and skills training to students in India across a range of industries, including financial services, retail and construction.
It will have a focus on English language training, and will be delivered both online and through Educomp's network of centres, using Pearson's educational content, technology and related services.
Pearson has also acquired a 17.2% stake in TutorVista, making it the largest in shareholder in the company, which provides online tutoring services for students by connecting them with experienced tutors in subjects such as maths, English, biology, chemistry and physics.
Pearson said it intended to add the service to its existing range for students in North America, the UK and other parts of the world.
Marjorie Scardino, Pearson chief executive, said: "We have great respect for the expertise, capabilities and innovation that Educomp and TutorVista have brought to the education market. We are enthusiastic about being their partners, because we see India not only as a big growth market in itself, but also as a place for us to build businesses that will be relevant across the world."