TeamLease acquires 40% stake in Schoolguru for Rs13 crore

The purchase of additional stake by TeamLease is linked to Schoolguru’s future performance and meeting its milestones.

The purchase of additional stake by TeamLease is linked to Schoolguru’s future performance and meeting its milestones.

New Delhi: Staffing services firm TeamLease Services on Wednesday said it has acquired 40% stake in online learning company Schoolguru Eduserve Pvt Ltd for Rs13.53 crore, a move that will accelerate TeamLease’s employability strategy.

Both the companies have signed a definitive agreement to this effect. “TeamLease’s infusion of Rs13.53 crore into the company (Schoolguru) will be primarily used to expand its business into new geographies, strengthen existing technology and content library, and innovate in new forms of delivery,” the company said in a regulatory filing.

The transaction involves purchase of both primary as well as secondary shares of the company through a structured deal. The purchase of additional stake by TeamLease is linked to the company’s future performance and meeting its milestones, it added.

“We began talks to be a customer for TeamLease Skills University but quickly realised that with some investments Schoolguru could emerge as important platform to accelerate our employability strategy,” TeamLease Services Managing Director Ashok Reddy said.

The transaction will be subject to customary closing conditions and regulatory approvals and is expected to close before the end of November 2017. Schoolguru will continue to operate as a separate and independent entity.

“This partnership with TeamLease helps us in two ways; one is pursuing our vision of technology enabled employable education and second is creating new forms of blended learning that combine our platform with on-thejob-learning,” Schoolguru CEO Shantanu Rooj said.

Schoolguru was founded in 2012 by Shantanu Rooj, Ravi Rangan and Anil Bhat. The company partners 18 Indian universities to help them provide premium online and virtual courses for their students. It services 70,000 students. The company has a library of 45 undergraduate courses and 30 masters courses with a total of over 5,00,000 minutes of video content.


Havas Acquires The 88, Taps Founder as New York Creative Chief

Havas Acquires The 88, Taps Founder as New York Creative Chief

Havas has acquired social media and digital shop The 88, bringing on Harry Bernstein, founder and chief creative officer, as chief creative officer of the New York office.

Bernstein succeeds Toygar Bazarkaya, who until mid-April was chief creative officer of the Americas and chairman of the Global Creative Council for Havas Worldwide and led creative for New York, says Jason Peterson, chairman and chief creative officer of Havas Creative U.S.

All 48 of Bernstein’s staffers will join Havas New York, and The 88 name will dissolve with the acquisition. Bernstein will report into Peterson. The duo previously worked together at Berlin Cameron.

No client conflicts have surfaced through the deal, says Bernstein, adding that his current clients, such as Adidas and Bloomingdale’s, will now have broader support and scale through Havas’ network.

“When I started the 88 and I didn’t call us a social agency – I just wanted to do things differently,” says Bernstein. “And this opportunity came and it’s accelerating my vision to change advertising and do things non-traditionally.”

“The advertising industry is a broken model, and right now the industry is gasping for breath to figure out what it should be,” says Peterson. “We had an idea – and Harry was the missing piece in this – to create a new model of a consumer-first journey with a media agnostic approach, so taking a strategic and creative idea and being able to execute it flawlessly in every channel and touchpoint that our consumers are actually using.”

While Havas won lead creative and media duties for Con Edison this summer, the agency has had a run of executive departures since the beginning of the year and lost the Dos Equis account. In January, Andrew Benett stepped down from his role as global CEO of Havas Creative Group and Havas Worldwide, followed by the departures of New York-based global Chief Marketing Officer Matt Weiss, Global Chief Content Officer Vin Farrell and Bazarkaya.

“We have amazing clients and we have a great group of people, but there’s been a lack of clear vision and guidance about what kind of company we want to be and that’s what this acquisition is about and what Harry will help us do,” says Peterson.

Financial terms of the acquisition were not disclosed.




Sega Europe has announced today it has acquired Crytek Black Sea and added the studio to the ranks of Halo Wars 2, Total War, and Alien: Isolation developer Creative Assembly, reports

The studio, based in Bulgaria’s capital, will now be called Creative Assembly Sofia.

Crytek Black Sea was established in 2008 after Crytek’s purchase of Black Sea Studios (Knights of Honor, Worldshift). Crytek Black Sea was developing Crytek’s free-to-play MOBA Arena of Fate up until their closure in December 2016. The studio was one of five shuttered by Crytek following a lengthy period of financial strife for the German software company.

“The acquisition of Crytek Black Sea further enhances Sega Europe’s development capabilities and strengthens our ability to output diverse and engaging content for our IP,” said Sega Europe president and COO Jurgen Post, confirming Creative Assembly Sofia will be working exclusively on content for Creative Assembly.

According to Post the studio “will prove an invaluable asset given the multitude of unannounced titles currently in the works.”

With the addition of Creative Assembly Sofia, the global Creative Assembly team has reportedly now grown to over 500 people.

Founded in 1987 Creative Assembly is based in West Sussex, UK. The developer previously operated an overseas branch in Brisbane, Australia but that was re-branded Sega Studios Australia and subsequently closed in 2013.

The recently-released Halo Wars 2 is Creative Assembly’s latest game; you can check out the review here.

[“Source- ign”]

Keywords Change for AdWords, GoDaddy Acquires Email Marketing Firm

There was big news from Google and GoDaddy this week. And those are just two of the news items with implications for small businesses recently. The Small Business Trends editorial team brings you some of the headlines that could impact your small business in a big way in our weekly small business news roundup.

Online Marketing

No More Phrase and Exact Keyword Match in AdWords

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GoDaddy Acquires Email Marketing Service Mad Mimi

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Square Expands Its Cash Advance Service for Small Businesses

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Square Appointments Assists You With Your Bookings

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Email Marketing

Phil Hill of Flashissue: Turning Gmail into an Email Marketing Platform

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Local Marketing

Study Shows Consumers Prefer Shopping in a Store, Not Online

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This Guy Promotes an Entire Town Online

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Nostalgia Makes People Spend More, Study Finds

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Mobile Trends

New Shopping App Connects Fashion Brands With Mobile Customers

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Small Biz Spotlight

Spotlight: Technovation Shows Technology in Actual Room Settings

Did you ever wish that as a buyer, you could see and experience the tech solutions that could help you run your business — in action? Gathered in one place?

Small Business Operations

51 Franchised UPS Stores Hacked, Possible Data Breach

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LLCs are a Hot New Trend Among Sole Proprietors

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Social Media

Users Aren’t Happy That Twitter Now Reweets Favorites and Follows

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HTC Flagship Phone Now Has Windows Phone 8.1 Version

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HP Stream 14 Is Windows Answer to The Chromebook

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Chromebook Sales Will Rise As Businesses Adopt Cloud Technology

Chromebook sales are on the rise. And their use in the business community is expected to contribute to their continued popularity. New research shows that sales of Chromebook devices rose sharply last year and will continue on that trend in the near future.

Tiny Polaroid Cube Records HD Video On-The-Go

Polaroid has introduced a new camera that can go just about anywhere with you. The Polaroid Cube is only 35mm tall, wide, and deep … a true cube. It’s capable of shooting 90 minutes of 1080p HD video on a single charge.

swivelCard: One Part Business Card, One Part USB Drive

swivelCard, at first glance, looks like a basic business card made of thick cardstock. But the innovative feature is the card’s ability to fold up and become a USB drive.


Venture Capitalists Now Search Crowdfunding Sites for Opportunities

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Product Lists

Top 100 Small Business Podcasts: 2014 Edition

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Reading Photo via Shutterstock