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Pearson completes 100% acquisition of TutorVista, Srikanth Iyer appointed CEO

Pearson, has announced the acquisition of the block of
shares it does not already own in TutorVista, to complete 100 per cent
ownership of the Bangalore-based learning services company.  

Krishnan Ganesh and Meena Ganesh, who leads TutorVista’s domestic
operations, will give up all management roles in the company they jointly
founded.

In 2009, Pearson had acquired a minority stake in
TutorVista, increasing its holding in 2011 to a controlling position of 80 per
cent. 

TutorVista was founded in 2005 by Krishnan Ganesh, and has
1,300 employees across online tutoring, school management, ICT and test prep
and tuition.

Pearson has named Srikanth Iyer, a senior member of the
existing management, as new CEO of TutorVista.

Srikanth Iyer said, “Through Pearson’s pedigree, systems and
processes we are now a step closer towards establishing ourselves as the
leading technology-enabled education services company in India, offering global
standards of learning to Indian students, at affordable prices.”

According to Pearson press release, Pearson’s complete
takeover of TutorVista forms part of a wider strategy of building significant
education services businesses in fast-growing emerging markets. At the heart of
this strategy is applying its market-leading learning services to make
education more accessible and effective.

TutorVista has delivery network of education services such
as school management, online tutoring, and technology based classroom solution
for schools and test prep market. Through PES (formerly Edurite) it has an
active customer base in major cities as well as Tier II towns.

By IER Staff

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