Ace Software Exports Limited has acquired a 49.62% stake in QeLearn Private Limited, a futuristic education company, for a total consideration of ₹8,90,10,000, as per a BSE filing.
This acquisition has been financed through the net proceeds derived from the company’s rights issue. The acquisition has made QeLearn Private Limited a wholly-owned subsidiary of Ace Software Exports Limited.
The QeLearn Private Limited is a company incorporated in 2023 under the Companies Act, 2013, and has its registered office in Ahmedabad, Gujarat. The company uses artificial intelligence to enhance the learning process for both students and educators. It offers a range of programs ranging from building foundational skills in early learners to providing advanced research tools for higher education.
The turnover of QeLearn Private Limited for the last two financial years is ₹100.66 lakhs and ₹197.88 lakhs, respectively. The company aims to create a responsive and intuitive learning ecosystem where AI adapts in real-time to the individual needs of each learner.
As part of the agreement, Ace Software Exports Limited has acquired the remaining 2,58,000 equity shares of QeLearn Private Limited. The acquisition is expected to strengthen the company’s presence in the education sector.
The order adds to Ace Software Exports Limited‘s portfolio of subsidiaries, reinforcing its position as a leading player in the IT sector. This acquisition is a significant step forward for the company, and it is expected to have a positive impact on its future growth.
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