LEAD completes acquisition of Pearson's K-12 learning business in India

LEAD, an Indian school edtech company, said on March 15, 2023 that it had completed its purchase of the local K-12 learning business of Pearson India. The agreement was first announced on January 6, 2023, and the price was not disclosed.

LEAD said the deal widened its reach to more than 9,000 schools and about 5 million students, and that the larger product range would help it serve the full spread of India's private schools, which it put at more than 500,000. The Pearson business supplied private English-medium schools following the CBSE and ICSE boards with books, digital learning material and teacher resources. LEAD said it was paying for the purchase through a mix of new fundraising and its own funds; in January 2023 it raised about Rs 160 crore in long-term capital from Alteria Capital and Stride Ventures and in working capital loans from banks. EY advised LEAD on the transaction.

LEAD was founded in 2012 by Sumeet Mehta and Smita Deorah and offers schools a combined system of curriculum, technology and teaching methods. The company said it aims to supply more than 60,000 schools across India by 2026.