Core Projects acquires two US firms worth $25 mn revenue

"The company has acquired Technical Systems Integrators LLC (TSI), a Georgia-based education solutions company, and New York-based Keenan and Keenan Group (KSG), an education consulting company," it said in a regulatory filing.

The two companies have a combined turnover of $25 million, with an average EBIT (earnings before interest and taxes) margin of 16 percent, it added. Both the companies combined together cater to the needs of 1,500,000 students across 1,500 schools in the US.

TSI provides education solutions and IT services, with primary focus on sales, delivery, installation and management of advanced technology assets towards the K-12 and higher education markets, while KSG operates as a provider of highly skilled and specialised resources, with primary focus on providing trained consultants and staff to educational institutions.CPTL scrip on the Bombay Stock Exchange was trading at Rs.302.55 up by 2.30 percent from the previous close of Rs.295.75.