Bodhi Tree is acquiring a $600 million stake in the Allen Career Institute as the investment platform of James Murdoch and former Disney chief executive Uday Shankar expands its bet on India’s burgeoning edtech market, they said Sunday. The duo said their investment in the 33-year-old education brand, which operates 138 learning centers across 46 cities in India and the Middle East, is strategic.
Allen, which helps prepare students looking to take prestigious exams such as the IIT JEE Mains & Advanced, NEET-UG, KVPY and Olympiads, said it will work with Bodhi Tree to further develop its exam preparation offering and “delivery at scale “. positive impact on millions of students in exam preparation and K12 segments, using technology as a key value driver.”
“Education is a pressing need for consumers due to its profoundly transformative impact on consumers’ lives and livelihoods,” Murdoch and Shankar said in a joint statement.
“We believe that education is on the cusp of a technological renaissance that will fundamentally change the way we learn and make it more effective. ALLEN’s unrivaled success and scale provide the right foundation to build the digital education company of the future. We are delighted to be working with the Maheshwari family to create a results-driven digital education company that fulfills the aspirations of millions of students and parents in India and beyond.”
investment firm, presented in February of this yearannounced earlier this week that he invested $1.78 billion in the Viacom television network backed by Mukesh Ambani18..
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