Latest News | Physics Wallah to Acquire 50% Stake in Xylem for Rs 500 Cr in 3 Years
Get latest articles and stories on Latest News at LatestLY. Unicorn edtech firm Physics Wallah will acquire 50 per cent stake in Kerala-based edtech firm Xylem Learning for Rs 500 crore in phases over three years, a top official of the company said on Sunday.
New Delhi, Jun 18 (PTI) Unicorn edtech firm Physics Wallah will acquire 50 per cent stake in Kerala-based edtech firm Xylem Learning for Rs 500 crore in phases over three years, a top official of the company said on Sunday.
The partnership is aimed at strengthening the presence of Physics Wallah (PW) in the southern market.
"Physics Wallah will acquire 50 per cent in Xylem Learning in a phased manner over a period of three years," PW Founder and CEO Alakh Pandey told PTI.
The partnership involves strategic equity and cash investments in Xylem and scaling up operations.
Pandey said that the partnership with Xylem Learning not only aligns with PW's shared vision of providing quality education to all but also propels us closer to our strategic goal of becoming the leading education platform in South India.
"In three years, we will invest Rs 500 crore to propagate the brave and unique 'XYLEM model of Hybrid Learning' to other adjoining sister states - it is a special result-oriented plan of learning which has specially impressed me.
"To do this it will require robust team building, content development, technological innovation, expansion in other categories and hybrid centers. We will also look at mergers and acquisitions in the South," he said.
Founded by a 26-year old MBBS graduate Ananthu S, Xylem Learning claims to have a strong presence in the Kerala market and plans to now expand to Tamil Nadu, Andhra Pradesh, and other southern markets.
At present, Xylem Learning provides free classes to over 3 million students through their 30 YouTube channels. Additionally, it has more than 1 lakh paid students across its various online courses and 30,000 students in its offline or hybrid centres located across five prime districts of Kerala.
It also operates 10 tuition centres and a school-integrated program across seven schools. It has also ventured into commerce and Kerala PSC test preparation and will continue expanding into other categories.
Built on the exchange of technology and knowledge, the collaboration will leverage the strengths of both platforms to deliver the learning experience for JEE and NEET aspirants in South India.
Ananthu said that the partnership is driven by the principles of affordability, trust, and the democratization of education.
"We aim to achieve Rs 300 crore revenue with 25 per cent EBITDA in the financial year 2024, up from Rs 150 crore in FY'23. Alakh Pandey's vision perfectly aligns with ours, as we are both dedicated to making quality education accessible and affordable for students," he said.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)