Veranda Learning Solutions has signed a definitive agreement to acquire T.I.M.E. (Advanced Educational Activities). For a consideration of Rs. 287 crore, this 100% acquisition will be in a phased manner with 80% of the outstanding capital along with management control in phase 1, followed by the purchase of the remaining 20% at the end of two years (subject to the fulfillment of closing conditions).
T.I.M.E. is Indias leading test-prep institute with a pan-India presence operating through 188 centres including franchisees spread across 98 cities in India and is headquartered in Hyderabad.
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