RIL-owned subsidiary Infotel Broadband has acquired a 38.5% stake in digital learning company Extramarks Education for an undisclosed amount. The investment was carried out by an affiliate of RIL, Reliance Strategic Investments.
Extramarks Education, which also focuses on school education, has its content distributed digitally, and the investment seems to part of the mobile content strategy that Infotel is looking to pursue alongside its plans of launching wireless broadband services. The deal is also expected to strengthen Infotel’s penetration into the education markets, which haven’t yet seen major developments in India.
Extramarks Chairman Atul Kulshreshta said: “The relationship with Reliance is the start of an exciting phase for Extramarks. Over the last two years, we have progressed on our journey of revolutionizing the domestic education sector through technology-enabled smart solutions and active participation in infrastructure development.”
RIL bought Infotel last year for Rs 13,000 crore shortly after Infotel won broadband spectrum in all 22 circles by paying Rs 12,848 crore. The company is expected to launch its broadband wireless access services by the end of this year or early next year.
