Educomp Solutions acquires 51% stake in AuthorGen Technologies

Educomp Solutions Ltd has announced that the Company has acquired an 51% strategic stake in AuthorGen Technologies Pvt Ltd. Authorgen Technologies is a pioneer and leader in the area of web 2.0 platforms for online learning. Their leading portal Wiziq.com connects students and teachers from around the world. The platform is equipped with a state-of-the art virtual classroom with audio-video communication capabilities and runs in any web browser and on any operating system.

This investment will enable the Company to leverage & consolidate its position on online tutoring by having access to key technology competence and student teacher marketplace models.

The stock closed the day at Rs.2361.20, down by Rs.135.70 or 5.43%. The stock hit an intraday high of Rs.2539.70 and low of Rs.2310. The total traded quantity was 67365 compared to 2 week average of 110424.

Source : Equity Bulls

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