Veranda Learning announces business transfer agreement with Logic Management Training Institute

Chennai-based Veranda Learning Solutions has signed a business transfer agreement to acquire Kerala-based Logic Management Training Institutes Pvt. Ltd.

The move aims to expand Veranda's educational offerings across India. Logic Management Training Institute, established in 2005, is known for its robust professional financial courses and has a significant presence in Kerala with eight branches.

What does the acquisition mean for Veranda Learning?

By acquiring Logic Management Training Institute, Veranda Learning will enhance its educational programs, especially in commerce. Logic offers a variety of courses, including CMA (USA and India), CA, CS, ACCA, CPA, and EA.

These programs have been instrumental in Logic's success, evidenced by a high pass rate of 80% for CMA USA and 60% for other international courses. The acquisition is part of Veranda’s strategy to broaden its reach and impact over 1 million students by FY24-25.

How will the entities collaborate?

Post-acquisition, Logic will work closely with JK Shah Classes, a premier CA test preparation institute already associated with Veranda. The collaboration is expected to enrich the educational landscape and provide students with better opportunities for professional growth.

The synergy between the entities will focus on enhancing the quality and scope of their educational programs.

Leadership comments

Suresh Kalpathi, Executive Director and Chairman of Veranda Learning said, “Logic seamlessly integrates into what we proudly call the Veranda ecosystem. I am confident that this will help us in our mission of touching the lives of over 1 million students in FY24–25.”

Santhosh Kumar, Director of Logic School of Management, expressed his optimism about the collaboration, saying, “We are delighted to align with Veranda Learning and leverage their expertise to enhance our offerings and provide even greater value to our students. This collaboration marks a new chapter in our journey towards excellence in education.”

What is Veranda Learning's growth strategy?

Founded in 2018 by the Kalpathi AGS Group, Veranda Learning Solutions has been aggressive in its growth strategy, focusing largely on acquisitions. The company has invested over Rs 1,000 crore to acquire more than a dozen companies so far.

Additionally, Veranda raised Rs 425 crore through debt funding from BPEA Investment Managers Private Limited to support its acquisitions, refinance existing loans, and bolster working capital. The integration of Logic is expected to be completed by the first half of the financial year 2024-25.