Digital learning company McGraw-Hill Education, US, has announced the completion of its acquisition of the entirety of shares in Tata McGraw-Hill Education Private Limited, the company's long-existing joint venture with Tata Group. As part of the agreement, McGraw-Hill Education purchased the minority ownership stake in the company held by two Tata charitable trusts. The purchase comes as McGraw-Hill Education increases its focus on providing its educational solutions and services globally. Terms of the acquisition were not disclosed.
Formed in 1970, the Tata McGraw-Hill joint venture quickly became a leader in providing learning solutions to India's burgeoning economy in higher education, professional and test prep markets. As part of the transaction, the company will change its name to McGraw-Hill Education India Private Ltd.
The acquisition follows McGraw-Hill Education's recent announcement that it has signed an agreement to acquire ALEKS Corporation, the developer of the ALEKS adaptive learning technology for the K-12 and higher education markets. In January 2013, McGraw-Hill Education acquired an equity stake in Area9 Aps, the Denmark-based adaptive learning company.
