India: Hexaware founder’s Azent Overseas acquires AdmissionTable.com

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Azent Overseas Education Limited, an online education startup founded by IT firm Hexaware Technologies Ltd founder Atul Nishar, on Wednesday said it has acquired Bengaluru-based AdmissionTable.com, an artificial intelligence driven online platform for overseas university selection and admission counselling.

While it did not disclose the deal value, this forms part of Azent’s larger plan to invest 250 crore into the firm’s technological capabilities, services, acquisitions and infrastructure.

“We have set aside about 250 crore for investing in this venture over the next three years. We expect about half of that, about 125 crore, to go towards acquisitions, and the remaining would be invested in building physical infrastructure, improving our technology and funding our working capital requirements. As we actively look for more opportunities, we plan to acquire three companies in the education counseling space in the next three years,” said Atul Nishar, founder of Azent Overseas Education.

“The acquisition of AdmissionTable.com would help us extend our reach beyond the tier-1 cities and establish a pan India presence. Further, we look to build 3-5 centers every year, which means we will have 15 offline centers by the end of three years. We also plan to expand our business to Gujarat and open another online centre in Mumbai,” he added.

“In India, overseas education counseling is a fragmented market and we want to be able to consolidate that by acquiring a significant market share. Alongside, we will enhance our quality of services and continue adding more value for students and families,” said Nishar.

Education has emerged as one of the most attractive sectors for entrepreneurs and investors alike over the last few years, driven by a huge untapped market and parents’ willingness to fund education across income categories and tech enabling a broad reach. While Byju’s, valued at $5.5 billion, is the leading startup, others include Unacademy, Vedantu and Toppr, all of which have either raised or are raising growth equity capital.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.