TeamLease Services Limited and Schoolguru Eduserve Private Limited, an online learning company that works with 18 universities, on Wednesday announced the signing of a definitive agreement under which TeamLease will acquire 40% stake in Schoolguru.
The transaction remains subject to customary closing conditions and regulatory approvals and is expected to close before the end of November 2017. Schoolguru will continue to operate as a separate and independent entity.
Schoolguru is a technology-led specialised academic services organization established in 2012. The platform is mobile native and is designed to adopt innovations in machine learning, multi-reality, and analytics to offer personalised and effective learning to millions, a release said.
Started with a team of five members, the company has grown into a team of over 125 employees, spread across 11 locations.
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