Asia
Ace Software Exports Completes Acquisition of AI-Powered Education Tech Firm
Ace Software Exports (BOM:531525) acquired the remaining 258,000 equity shares, representing a 49.62% stake, in QeLearn for 89 million Indian rupees, according to an Indian bourse filing by the company.Shares of Ace Software rose nearly 5% at Wednesday's close.With the transaction, QeLearn has become a wholly owned subsidiary of the company. The acquisition was funded through proceeds from Ace Software's rights issue, the filing said.QeLearn operates in the AI-led education technology segment and offers learning solutions for students and educators.The acquisition will help Ace Software expand into the EdTech sector and create new growth opportunities through technology synergies, the company said.
BOM:531525