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Jan 31

Ril Acquires 38.5% Stakes In Extramarks Education

Reliance Infotel, a communication based subsidiary of Mukesh Ambani owned Reliance Industries Limited acquired 38.5% stake in Extramarks Education, a firm which provides digital learning in all parts of India. By acquiring these stakes, Infotel plans to strengthen its content pipeline to pioneer 4G revolution in India.
Reliance Infotel invested in Extramarks Education through an affiliate company Reliance Strategic Investments. Details about the amounted invested remain undisclosed. Sources say that RIL will infuse fresh capital and there will be no dilution of equity in Extramarks.
Infotels investment in Extramarks Education will help the latter continue with its growth plans for developing services and deepening market penetration. Extramarks Education broadens learning experience for students by providing computer aided learning. Its education support aims at reaching out to students even in the remotest locations, anywhere and anytime.
Extramarks Education intends to use the funding for executing new learning projects and new technologies to render study help at affordable prices. Extramarks Chairman, Atul Kulshreshta said, The relationship with Reliance is the start of an exciting phase for Extramarks. Over the last two years, we have progressed on our journey of revolutionizing the domestic education sector through technology enabled smart solutions and active participation in infrastructure development.
He added that the alliance with Infotel will help to accelerate the mass penetration which will prove to be beneficial for thousands of Indians, as it will cater quality education and study help at their doorstep.
Last year, Reliance Industries Limited acquired 95% stake in Infotel Broadband after investing Rs 4,800 crore and made it a subsidiary of RIL. Reliance Infotel is the only company which won licenses in 22 circles in Pan India Broadband Wireless Access (BWA) during the auction for BWA 4G Spectrum.
Infotel plans to roll out high speed internet services, data cards and latest handsets at affordable rates by early 2012. In order to lead India into 4G broadband services, RIL intends to strategize relations with leading global technology vendors, service providers, infrastructure providers, device manufacturers, etc.
Reliance Infotels content portfolio is expected to strengthen by the acquisition of 38.5% stakes in Extramarks Education. It will help Reliance grow its business in the education sector, as it strongly focuses on delivering content using information and communication technologies.

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