CORE Projects & Technologies acquires ITN Mark Education Ltd

CORE Projects & Technologies ltd has announced its acquisition of ITN Mark Education Ltd; a 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.

Commenting on the acquisition, Chairman & Global CEO of CORE Group, Sanjeev Mansotra, noted that 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, said Mansotra.

Mansotra noted that with the 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.

Mansotra further reiterated that the acquisition will allow Core Projects 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 the company’s 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.

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% share in England and Wales.

Listed on the BSE & NSE and rated The Fastest Growing IT Company in the State of Maharashtra, CORE Projects and Technologies Limited is India’s largest global education company.

29th May 2011