| MUMBAI:
British publishing major Pearson has stepped up its India plans. The company,
which is awaiting final nod from the ministry for a facsimile edition of Financial
Times, said Wednesday it would invest $30 million in two Indian education firms.
Pearson
has formed a 50:50 joint venture with education software solutions provider Educomp,
wherein it will pump in $17.5 million for the stake in the local company's existing
vocational training business.
Founded
in 1994, Delhi-based Educomp is a listed company and serves over 12 million students
across India, North America and Singapore. The JV will offer vocational and skills
training in India. The
joint venture will extend its services to a wide spectrum of industries. These
include financial services, retail and construction. Focussing on English language
training, the services will be delivered both online and through Educomp's network
of centres, using Pearson's educational content, technology and related services.
Pearson
has also acquired 17.2 per cent in TutorVista, a Bangalore-based online tutoring
services provider, to become its largest shareholder. TutorVista
connects experienced tutors with more than 20,000 registered students using VoIP
(voice-over-internet-protocol) and online whiteboards to work through problems
demonstrate solutions and conduct assessments in subjects including math, English,
biology, chemistry and physics. The company also runs English coaching and test
preparation for SAT, ACT, AP and other exams. The company was founded in 2005.
Pearson
intends to add TutorVista's online tutoring to its range of services for students
in North America, UK and other parts of the world. Manipal
Education and Medical Group, Sequoia Capital and Lightspeed Venture Partners are
also TutorVista shareholders.
Pearson will work with both TutorVista and Manipal to develop new businesses for
the schools market in India. Pearson
CEO Marjorie Scardino said, “We have great respect for the expertise, capabilities
and innovation that Educomp and TutorVista have brought to the education market.
We are enthusiastic about being their partners, because we see India not only
as a big growth market in itself, but also as a place for us to build businesses
that will be relevant across the world." | 
