Acquisition adds a global sales and marketing engine

MPS Limited (MPS) and Tata Industries Limited (TIL) have entered into definitive agreements for the acquisition of TIL’s enterprise e-Learning business.

Through this acquisition, MPS will acquire Tata Interactive Systems India (a division of TIL), Tata Interactive Systems AG, and Tata Interactive Systems GmbH.

The transactions are likely to close in the next several weeks, subject to the fulfillment of customary closing conditions and shareholders’ approval of TIL, said a statement on 24 April 2018.

Over the last 27 years, Tata Interactive Systems (TIS) has established itself as a pioneer in technology-enabled learning.

The company’s innovative products and strategic learning advisory services are driven by excellence in learning and development and process efficiency.

The German and Swiss subsidiaries, acquired by TIL in 2005, have gained considerable reach in European markets through their unique platforms TOPSIM® and Quizbiz®.

TIS has consistently featured in the Top 20 list of Training outsourcing companies, content development companies, and gaming companies.

Milind Shahane, currently the CEO of TIS and Tata ClassEdge, will continue to be the CEO for both entities till closing of the transaction after which he shall continue in the role of CEO for Tata ClassEdge.

Rahul Arora, CEO of MPS Limited, said, “The acquisition adds a global sales and marketing engine that has a rich background in scaling business and will unlock combined value.”

MPS has a strong track record in making publishing smarter through efficient workflows and rich platform solutions.

“We look forward to bringing this expertise to the Enterprise Learning space through TIS,” Arora said.

Avendus Capital has acted as the financial advisor and Wadia Ghandy & Co., Hengeler Mueller and Bratschi Attorneys-at-law have been the legal advisors to TIL for this transaction.

Ernst and Young (Mumbai) performed the role of a financial advisor and JSA Law (Gurgaon) advised on all legal aspects to MPS for this transaction. fii-news.com