Education syllabus-based content providers, Navneet Education, on Wednesday said that they had finalised an agreement with Britannica to acquire the latter’s Indian curriculum business, for around Rs 88 crore. The move will help Navneet to expand its range of curricular offerings in the Indian school market, nationwide.
Britannica India’s curriculum division designs and develops educational products for the Indian region used by nearly five million students across India and Indian schools abroad. Britannica India’s curriculum business will expand its products range and accelerate its growth, through Navneet’s network.
The current Britannica business unit will become an independent company operating within Navneet, through this agreement. The company will market Britannica’s existing India-specific curriculum titles, such as ‘Know for Sure’ and ‘The English Channel’. The two companies also plans to develop new titles under Britannica’s brand, editorial supervision and guidelines for the next seven years.
Britannica Inc. President Jorge Cauz said in a statement that they would work with Navneet to find ways to benefit from their shared commitment to serve students, teachers and schools in India.
Chicago-headquartered Britannica Inc. will continue to offer its digital education solutions to the region.
Navneet director Anil Gala said: “The coming together of the two companies will help enhance Navneet’s footprint and access to newer markets. It will also significantly augment Navneet’s intellectual property.”
Navneet was founded by the Gala Family in 1959 and provides its syllabus-based content in print and digital media. It also provides scholastic paper and non-paper stationery products.
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