Mukesh Ambani is close to acquiring a major stake in Embibe.com, an Online Education Portal, for close to Rs.100 Crores.
A transaction will likely see the promoters and current investors in the Mumbai-based education portal, which prepares students for competitive entrance tests, selling their stake. “The deal is as good as done,” said one person.
“Reliance would need content when data becomes big, especially as Jio keeps increasing its holding in this segment. Education is only one sector where the data play was missing from the company’s standpoint, which would be complete after the acquisition,” he said.
Embibe had acquired 100Markes, an engineering and medical entrance exam training portal, in a cashplus – stock deal in 2015 for an undeclared amount.