CL Educate Strengthens Market Presence with DEX Acquisition

CL Educate has acquired the Digital Exam Assessment (DEX) business from NSEIT, enhancing its role in the expanding assessments market in India. The acquisition, valued at Rs 230 crore with a potential earn-out, aligns with CL Educate's strategy to diversify into new education sectors.

CL Educate, a key player in the education sector, has announced the acquisition of the Digital Exam Assessment (DEX) business, part of NSEIT, a subsidiary of the National Stock Exchange of India. This strategic move is set to bolster CL Educate's foothold in the burgeoning assessments market.

The assessment market in India is currently valued at approximately Rs 7,000 crore, with projections indicating a growth rate of 12% CAGR, expected to reach Rs 13,500 crore by 2028. By acquiring DEX for an upfront payment of Rs 230 crore and an additional Rs 75 crore tied to future performance, CL Educate aims to broaden its scope within the education domain.

Satya Narayanan R, Chairman of CL Educate, described the acquisition as transformative, enabling the company to offer advanced digital assessment solutions globally. The acquisition supports the company's vision of innovation and scalability in assessments, benefitting students, institutions, and corporations alike.

(With inputs from agencies.)