CL Educate Limited, an NSE / BSE listed company, announced today the approval of the acquisition of the Digital Exam Assessment (DEX) business of NSEIT Limited, for an initial consideration of Rs.230 crores, with an additional consideration not exceeding Rs.75 crores subject to achievement of business goals. The proposed acquisition excludes, and will be undertaken post completion of sale of, the technology business of NSEIT Limited. NSEIT limited is a step-down subsidiary of National Stock Exchange of India Ltd. (NSE).
NSEIT DEX, the examination and assessment business of NSE, offers scalable solutions in Recruitment & Promotion Exams, Professional Certifications, Vocational Assessments, Entrance Exams, University Digital Exams and Employability Enhancement. The digital assessment market is estimated to grow from Rs. 5,000 Crores to Rs. 9,500 Crores by FY28.
NSEIT DEX is the second largest assessment company in India with the greatest geographic penetration for CBT-based examinations. Over the last 20 years, DEX has built a Vulnerability Assessment & Penetration Testing (VAPT) and Standardisation Testing and Quality Certification (STQC) certified robust exam engine. DEX also boasts of AI-based and computer vision based remote proctoring capabilities.
In FY24, NSEIT DEX achieved a revenue of nearly INR 200 crores with an EBITDA margin exceeding 17%. The company has conducted over 50 million assessments to date. It has a physical presence across 700+ districts in India with 234 dedicated physical centres and 3000+ university / private centre partnerships.
Completion of the proposed acquisition remains subject to execution of binding agreements between the parties and receipt of necessary approvals.
For more information regarding NSEIT DEX: https://www.nseit.com/dex/digital-examination/
For more information, regarding CL Educate you can visit our corporate website:
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For further information, please contact:
Arjun Wadhwa
Chief Financial Officer
CL Educate Limited
+91 9811617289