IT training and education major, Aptech Ltd, has sealed a major buy-out in the animation and multimedia education space by acquiring Maya Academy of Advanced Cinematics (MAAC) for Rs 76 crore. This acquisition will make it an education power house, give it scale and synergy as well as a significant market share.
The acquisition is through the takeover of 100% equity shares of Maya Entertainment Ltd (MEL), the parent company of MAAC. The deal is structured to include a cash pay-out as well as issue of equity shares of Aptech Ltd to the shareholders of MEL. The enterprise value is Rs76 crore, and the breakdown between the cash and equity components will be finalised very soon.
Issue of shares of Aptech Ltd is, however, subject to approval of the shareholders of Aptech Ltd.
The cash to be paid will be from internal accruals. With the animation education industry poised to expand at 27% CAGR, there is an immense potential in this segment, and this acquisition will help Aptech tap this potential.
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