A leading global player in delivering and managing Education Solutions, today announced its acquisition of ITN Mark Education Ltd., an UK based Education Solutions company which is a national provider of supply teachers and teaching assistants. CORE acquired ITN Mark for about US$ 25 million, through its subsidiary Core Education and Consulting Solutions (UK) Ltd.
ITN Mark has a topline of USD 33-35 million and current EBIT margins are around 12 percent. On this development the Chairman & Global CEO of CORE Group, Mr. Sanjeev Mansotra said “It is a moment of pride for us. ITN Mark contributes towards the ultimate goal of making teaching globally competitive in each and every sector. ITN is already focused on imparting industry relevant training to the teachers. We are sure with this acquisition CORE will scale new peaks in its mission to take education to its next dimension.”
ITN Mark was acquired from Ochre House Limited, the recruitment outsourcing and talent management business backed by NBGI Private Equity. ITN Mark is one of the leading providers of supply teachers and teaching assistants in England & Wales to primary and secondary schools. It also provides educational consulting services to academies and local authorities. It is 8th largest in size with a 5% market share of a total market of 430 million pounds (supply teachers and teaching assistant business). ITN Mark also has a specialized Educational Consultancy Services division that works with larger client groups such as education authorities, school clusters, academies, private sector education providers and a range of other educational institutes/bodies.
Mr. Sanjeev Mansotra added further “This acquisition will allow Core Education to enter the supply teachers and teaching assistants business in the markets such as the US where CORE already has a significant presence and relationships with some of the largest schools systems. Significantly, ITN Mark comes with a customer base of 1,600 schools, enabling our existing UK and USA business units to cross sell their products into these schools. This synergy will positively impact the overall profitability of the combined businesses.”
Mr. Prakash Gupta, Director of Core Education and Consulting Solutions (UK) Ltd., said: “The inclusion of these businesses into the CORE family will establish CORE as a national player in the education sector in the UK with 14 offices, a strong management team and a large national sales team allowing CORE to cross sell its education products and services to existing clients (1600 schools) of this newly acquired company with 5% market share in England and Wales”.
CORE Education & Technologies LTD scales new peaks!
-Sanjeev Mansotra leads all the way.
CORE Education & Technologies Limited (CORE) is an Indian multinational in the education space with operations in the US, the UK, the Caribbean, Africa and India. Core Education is an integrated products, solutions and service provider in education. Core’s offerings cover compliance, assessment, ICT, content, teacher training, vocational training, examination management system, language skills and has globally impacted more than 76,000 schools, 28 million students and trained over 100,000 teachers. 20 state Governments in USA including California, Maine, Michigan, North Carolina, Texas and over 40 Local Educational Authorities in UK and 9 State Governments in India work with CORE Education and Technologies for education projects and consultancy services.
Sanjeev Mansotra promoted Core Education & Technologies in 2003 at the young age of 31 and has achieved tremendous success overcoming severe competition in education sector. Mr. Sanjeev Mansotra, over the years, has demonstrated enormous vision and managerial capabilities to successfully establish stable and profit making entities in the areas of Education, Wellness and Power. Powered by his vision and drive, CORE emerged as one of India’s largest global education companies, offering best of breed end-to-end solutions in more than three continents across the world.
Recently Core Education and Technologies bagged the largest ICT project in India from the Govt. of Haryana. This prestigious contract from the Haryana Government aims at benefiting five million students in 2622 schools of which 5 schools will be developed as “Smart” schools. The ICT project values at about Rs 295 crores and is a part of the Government program aimed at strengthening school education across the country.
“This is an important milestone for not only CORE, but also the Indian education sector as it restates the intent of the Governments to step up the momentum of reforms in the sector. There is a concerted effort to seamlessly blend technology with classroom learning to benefit larger sections of the society.” said Mr. Sanjeev Mansotra, Chairman and Global CEO of Core Education and Technologies Limited. “This breakthrough is also an acknowledgement of CORE’s excellent global implementation ability and track record in executing large-scale projects. We are extremely happy to be associated with the Haryana Government,” Mr. Sanjeev Mansotra said.
Recently, Core Education also signed a MoU with the Gujarat Government for developing 10 ITIs and 4 Skill development centers and Gujarat Knowledge Society to impart job-oriented skill up gradation courses to youth of Gujarat undergoing various courses in various colleges. Core Education also successfully completed one of the projects wherein the Delhi Police had decided to implement a training program to develop its personnel at par with latest IT skills. The Delhi Police were imparted with basic IT skills as part of CCTNS (Crime & Criminal Tracking Network & System) project implementation to curb the crime in the city.
CORE had also recently announced its plan to enter the highly lucrative School Management business in India which is estimated to be growing at a CAGR of 20 percent. With the expertise that our team carries in terms of domain knowledge developed through working with around 76,000 schools across the globe, it was but a logical step for us to leverage all this knowledge and experience to offer quality K-12 education in India through our own chain of schools. CORE intends to launch schools across different categories with each having a distinct flavor and catering to definite needs felt in the Indian education system.
Mr. Sanjeev Mansotra said, “There is a huge demand for high-end IB schools in Tier-1 cities across India and to meet this need, we plan to set up 10 schools in up-market cities, equipped with latest technologies, assessment, student growth and teaching processes brought in by leveraging our experience in advanced markets. We also hope to have an international collaboration for this segment to set us distinctively apart from other schools in this genre.”
Sanjeev Mansotra also added, “Our country has a lot of sporting talent, be it tennis or soccer or cricket. We felt the need of the hour is to nurture this talent and provide them with a favorable environment so that they can excel both in academics and in their chosen sport. In a first-of-its-kind concept in India, CORE’s K-12 integrated sports academy will cater to the growing need to provide world-class sporting facilities including access to expert coaches, sports psychologists, mental conditioning coaches, sports nutritionists etc. in schools whilst also ensuring a sound education system to the students.”