MPS to expand e-learning business through Tata Interactive Systems acquisition

MPS Limited plans to acquire Tata Interactive Systems (TIS), the e-learning division of Tata Industries Limited.

MPS (formerly known as Macmillan Publishing) will acquire Tata Interactive Systems India, Tata Interactive Systems AG and Tata Interactive Systems GmbH. The acquisition is valued at Rs. 80 crore. The deal is in-line with Tata Group's strategy to exit non-core businesses. The transaction is subject to shareholder approval.

Through this acquisition the Noida-based company will get an edge in the Enterprise Learning Solutions market. TIS provides customised e-learning delivery through web-based learning, simulations, serious games, custom apps and micro learning.

Market has cheered this new development and the stock of MPS is trading at Rs. 611.60 per share, up by 6.64 per cent at 9:35 hours on Wednesday. The stock has seen upward momentum during the past five days and has gained 17.57 per cent in the period. The benchmark index BSE Sensex was quoting 34,589.54, down 27.10 points or 0.08 per cent.