Veranda Learning Solutions Ltd., Edtech’s company, which was registered in the stock market earlier this month, announced on Monday that they acquired a leading test company T.I.M.E test preparation for RS 287 Crore.

The acquisition, which has now signed by Veranda signed a definitive agreement with T.i.m.e, will occur in two phases – 80% in the first phase, and the remaining 20% ​​after two years.

“For RS considerations. 287 crores, this 100% acquisition will gradually with 80% of capital circulating along with management control in phase 1, followed by the remaining 20% ​​purchases at the end of two years (subject to the fulfillment of the closure of the provisions), “the company announced on April 25.

Was founded in 1992, t.i.m.e. (Advanced Educational Activities Pvt Ltd) is a leading PREP test chain with the presence of Pan-India operating through 188 centers including franchisees spread across 98 cities in India. It has a considerable market share in the MBA exam preparation market through various national and state entrance tests such as paint, MAT, and CMAT.

In addition, this also trains students to break the entrance of law such as Clat, Neet Enter Medical, and the entrance of the technique including JEE (Electricity) & Jee (continued) among a number of other offers.

The 30-year-old test preparation company also has a pre-school chain below t.i.m.e. Children’s brand, operating through 222 pre-schools in 56 cities.

Kalpathi Suresh, Executive Director of Cum Chairman, Veranda, said the acquisition of T.i.m.e. Allows the veranda to expand its national footprint and also through this acquisition will help diversify to pre-school and language training rooms.

“We are happy to be able to partner with Veranda on the way to the front of the T.i.m.e. will do. We believe that this will be a synergistic relationship and many benefits will increase for both partners. More importantly, we believe that this will also help us offer better product offers to our students, “said Manek Daruvala, founder and director of T.i.m.e.

Veranda Learning shares based in Chennai ended trading on Monday at RS.198.55 each at BSE, five percent higher than the previous closure. In comparison, the S & P BSE Sensex ended the trade that day with 1.08 percent lower.