In October last year Blackstone had picked up 37.5 per cent stake in Aakash Educational Services for Rs 1,350 crore and announced the intention to create a digitally enabled, omni-channel test preparation company.
"As part of this strategy, AESL plans to acquire Meritnation to accelerate the growth of its online live tutoring business and continues to evaluate potential acquisition opportunities," the company said in a statement.
Commenting on the acquisition, AESL Director and CEO Aakash Chaudhry said, "Meritnation's decade long EdTech experience and leadership in live tutoring technology, will further strengthen AESL's competitive positioning not only in digital education but will also further enable its offline student offering across its 200 classroom centres, teaching over 2,50,000 students".
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