DMC Education Acquires Kolkata-Based Plansteps

DMC Education Ltd has acquired Kolkata-based education consulting firmPlansteps for Rs.4.5 Cr ($10 Mn). DMC Education Ltd aims to take career counselling across India with the acquisition of Plansteps, which brings an established network in the North-East India along with Nepal and Bhutan. DMC is planning to open more than 100 centres in next 3-5 years which would offer career guidance to the applicants. Transaction Reference: Press Release

TRANSACTION NOTE               Plansteps was established in 1997 by Soumen Acharya. In 2004, it developed an institution 'CMT', to promote short term management courses in association with IISWBM Kolkata. DMC Education (formerly known as DMC International) initially started as a real estate firm. It then shifted towards the education space. Last year, DMC acquired Mumbai-based software developing company, Vsoft Services Pvt Ltd. Vsoft Services, established in 1996, is into development of Indian bilingual software. The company has been aggressively expanding in the education sector. It acquired premier test preparatory institute Trump & Gates from T&G Edutech for Rs5.65cr in October 2009. In 2007, DMC had bought 10% stake in Jaaydaad.com from Global Infocom Ltd at Rs 110 per share. DMC sales increased by 55% to Rs.3.86 crore in Q3 FY2011 over a year earlier, while net profit declined by 12.2% to Rs.72 lakh. Earlier this week CORE Projects and Technologies Ltd, an education solutions provider, acquired ITN Mark Education, a UK-based provider of teachers and teaching assistants, for $25 Mn (Rs.113 Cr). In Jan, UK-based Pearson Plc increased its stake in online tutoring firm TutorVistato 76%.