CORE Projects Acquires Us$ 25 Million Education Business In The Usa
Further Expanding Company's Footprint In The Us And Across The Globe.
- (1888PressRelease) November 26, 2010 - India's leading education MNC, CORE Projects & Technologies Limited, (CPTL), today announced twin acquisitions of education business in the US. The company has acquired Technical Systems Integrators LLC (TSI), a Georgia-based Education Solutions Company, and New York-based Keenan and Keenan Group, (KKG), an Education Consulting Company for US$ 20 million. The two companies have a combined turnover of USD 25 million, with an average EBIT margin of 16 percent.
Both the companies combined together cater to the needs of about 1,500,000 students across 1,500 schools in the US.Announcing the acquisitions, Mr. Sanjeev Mansotra, CMD of CPTL, said: "This is a major step for us towards consolidating our position as market leaders in the Education Space in the United States. The combined offerings from these companies compliment and supplement our own bouquet thus positioning us among the very few companies in the US capable of providing end-to-end solutions to the K-12 and Higher Education markets."
TSI, in operation since 2002, provides Education Solutions and IT services, with primary focus on the sales, delivery, installation and management of advanced technology assets towards the K-12 and Higher Education markets. TSI assists customers in Cloud Computing, Virtualization, selecting systems, designing networks, integrating with educational infrastructure, planning and managing networks and other infrastructure projects from concept to completion.
The company is also into providing Asset Recovery and Disaster Recovery Solutions to the Education sector. The delivery of world class solutions is enabled by TSI's partnerships and alliances with companies like Cisco, Dell, Intel, Microsoft, Nortel and Montana State University. TSI is also certified with Solution Providers like J D Edwards, SAP, Oracle and PeopleSoft, enabling seamless delivery of solutions across the entire functional spectrum of its customers TSI's focus on the K-12 and Higher Education markets covers 100 districts across 25 States in the US, including California, Florida, Maine, Montana, South Dakota, Texas and Virginia. From the University of Georgia, to Kaplan University in eight states, to the state of Oregon school system, the customer base exceeds 500 educational institutions and companies KKG, based in New York, operates as a provider of highly skilled and specialized resources, with primary focus on providing trained consultants and staff to educational institutions. The company offers a range of services such as Project Management, High Technology Services, Business Consulting, Process Re-engineering, Special Ed Consulting, Para Professional Consulting and Adjunct Services like Logistics, Transportation Management and Nutrition Management
In operation since 1981, the firm supervises the activities of as many as 500 active consultants in a wide range of K-12 and Higher Education Institutions and other business corporations. Prominent Education Clients of KKG include University of Rochester, Eastman School of Music, University of Rochester School of Medicine and Dentistry, Rochester Institute of Technology, National Technical Institute for the Deaf, State University of New York Geneseo, Rochester City School District, VWR International (The US's leading distributor of scientific supplies, lab ware, and educational aids to K12 and Higher Ed). KKG also serves a number of key clients in other verticals, such as healthcare and pharmaceuticals. Mr. Shekhar Iyer, CEO (USA Operations) of CPTL, said: "The inclusion of these businesses into the CORE family represents a fantastic opportunity for us and for our clients.
CORE's national and international reach will increase both the depth of the Solutions being offered and the breadth of the market that can be served by the acquired businesses." The USA Education market had shown an amazing resilience during the downturn in the economy during 2008 and 2009, and demonstrated its robustness since the last quarter of 2009. Reflecting this trend, CPTL posted an increase in revenue of 25% Y-on-Y during Q1 of FY 2011 compared to Q1 of FY 2010 in dollar terms. "The continuing firm undertone in the education spends in the USA augurs well for all sectoral players in the USA. Our acquisitions will help us in rolling out a wide spectrum of solutions across newer territories to take advantage of the accelerated spending in the education domain in many countries", concluded Mr Mansotra.
About CORE Projects & Technologies Ltd.
CORE Projects & Technologies Limited is an Indian multinational in the education space with operations in the US, the UK, the Caribbean, Africa and India. CORE Projects is an integrated products, solutions and service provider in education. CORE's offerings cover compliance, assessment, ICT, content, teacher training, vocational training, examination management system, language skills and has globally impacted more than 76,752 schools, 28.62 million students and trained over 100,000 teachers. 20State Governments in USA including California, Maine, Michigan, North Carolina, Texas and over 40 Local Educational Authorities in UK work with CORE Projects for education projects and consultancy services.
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