Edtech unicorn Lead has entered into an agreement with Pearson to acquire its local K-12 learning business in India. While the company did not disclose the value of the deal, the acquisition is expected to expand Leed’s reach to more than 9,000 schools.
Sumeet Mehta, Co-Founder & CEO, LEED said, “Our mission is to deliver great education to every child. School edtech is poised for continued growth post COVID and with the acquisition of Pearson India’s local K-12 learning business, we Will be able to reach more schools and students in service of our mission to provide excellent education to every child.This acquisition will unlock synergies and leverage our combined knowledge, experience and technology to bring 21st century school edtech innovation to schools in India Will build strength.
target audience
Across its K-12 learning portfolio, Pearson India caters to the needs of private, English medium CBSE and ICSE schools, providing blended learning solutions (books + digital) to ensure continuity of learning at home and teacher resources. The acquisition of Lead, Pearson’s local K-12 learning business in India, is being funded through a combination of new fundraising and internal resources. The acquisition, which has been approved by the boards of directors of both companies, is subject to customary closing conditions and is expected to be completed by Q1 CY 2023. EY was the exclusive financial advisor to LEAD on the transaction.
LEAD was founded in 2012 by Sumeet Mehta and Smita Deorah with a mission to transform school education in India. It combines deeply researched curriculum and pedagogy with technology to provide an integrated system of teaching and learning. LEAD’s integrated system is available in schools in over 400 towns and cities across India, reaching over 1.2 million students and empowering over 25,000 teachers.