Partners Group-backed content technology firm SPi Global has acquired a majority stake in global B2B edtech services enterprise LearningMate for an undisclosed sum, according to a company statement.
The company acquired the majority stake in LearningMate from Helix Investments, a New York-based private equity fund focused on India. Helix, which invested in LearningMate in 2009, will maintain a minority stake in the firm.
Following the transaction, LearningMate will operate independently under its founder and CEO Samudra Sen. LearningMate’s founding team and senior management will continue to remain invested in the company.
Representatives from Partners Group, SPi Global and other independent directors will join the board.
The deal comes at a time when the edtech space is booming with online learning becoming the new normal in the light of the global pandemic situation.
Founded in 2003, LearningMate has nearly 1,000 edtech professionals across the US, India, the UK and Canada.
The company provides services over platform strategy in the K-12, higher education and corporate training sectors. LearningMate has over 250 clients and millions of students and faculty across the globe.
Prior to LearningMate, SPi Global acquired the Indian edtech company e-Knowledge Center for an undisclosed valuation in June 2018. A year later, SPi Global acquired another Indian company Scientific Publishing Services (SPS) from the research and education publisher Springer Nature Group.
SPi Global has its resource pool in eight countries including India, the Philippines, the US, China, Nicaragua, Vietnam, United Kingdom and Singapore.