CL Educate Acquires NSEIT's Digital Exam Assessment Business

Mumbai, Jan 31 (PTI) Education company CL Educate on Friday said it has acquired the Digital Exam Assessment (DEX) business of NSEIT, a step-down subsidiary of the National Stock Exchange of India (NSE).

This acquisition strengthens CL Educate's position in the fast-growing assessments market, valued at around Rs 7,000 crore in India and projected to grow at a CAGR of 12 per cent, reaching Rs 13,500 crore by 2028, the company said in a statement.

It is, valued at Rs 230 crore upfront, with an additional earn-out of Rs 75 crore linked to FY25 performance, aligns with CL Educate strategic vision to diversify and expand into adjacent education sectors, the statement added.

"This acquisition is a transformative step in CL Educate's journey, enabling us to bring cutting-edge digital assessment solutions to students, institutions, and corporations worldwide with the proven capabilities of DEX.

“Together, we aim to redefine the future of assessments with innovation and scalability," CL Educate Chairman Satya Narayanan R added.