MT Educare acquires 51% stake in Lakshya

Mumbai: MT Educare Ltd said on Monday it has agreed to purchase a 51% stake in test preparation company Lakshya Forum for Competitions Pvt. Ltd for an undisclosed sum.

add_main_imageMT Educare will pay the money over three years based on Lakshya achieving certain milestones. It has an option till 30 June 2018 to to buy the remaining stake in Lakshya.

“We are pleased to join hands with Lakshya as their offerings are synergistic and complementary to our services in the science section,” Mahesh Shetty, chairman and managing director, MT Educare, said in a statement.NextMAds

Established in 1988, MT Educare is a leading coaching services provider across Maharashtra and has operations in Tamil Nadu, Karnataka and Gujarat as well.

Lakshya, which helps students prepare for medical and engineering entrance examinations, was started by four Indian Institute of Technology graduates in 2006 and has centres in Patiala, Bathinda, Chandigarh and Panchkula.