Bodhi Tree Systems, the platform led by Uday Shankar and James Murdoch, has decided to buy a stake in Allen Career Institute by investing $600 million, according to media sources.
Keshav Maheshwari, the Managing Director of Allen Career Institute said that the majority of the investment would be utilised for the company’s foray into edtech space, followed by expansion of offline centres both in India and overseas. Allen has 138 classroom centres in 46 cities across India, with a growing presence in the Middle East.
To build Allen into a digital education business of the future, Bodhi Tree Systems would leverage its founder’s shared track record of building consumer business.
The transaction is expected to close within three months after completion of necessary formalities.