Edtech unicorn LEAD announced an agreement with Pearson, the London-based learning firm, to acquire the latter's local K-12 learning business in India.
Pearson India's K-12 learning portfolio includes blended learning solutions and teacher resources for private, English medium CBSE and ICSE schools. The acquisition is being paid for with a combination of new funds and internal accruals. The current transaction's additional terms were not disclosed. LEAD said that with this acquisition, it will immediately expand its reach to over 9,000 schools and will further enhance its product portfolio to cater to the entire spectrum of over five lakh private schools in India.