24×7 Learning secures strategic investment from Capital18

24×7 Learning secures strategic investment from Capital18

Mumbai, November 6, 2007: 24×7 Learning, India’s largest eLearning implementation company today announced a $4M investment from Capital18, the venture capital and private equity arm of Network18. The investment is recognition of 24×7 Learning’s pre-eminent position in the eLearning space and its robust growth and sustained financial performance. The investment will be funneled into technology innovation, foray into new markets, expansion in solution offerings, talent acquisition and capacity expansion to further consolidate its position in the rapidly growing market. This partnership between a leading media conglomerate and an eLearning solutions leader signifies a key milestone in the convergence of Learning and Media in India.

24×7 Learning provides comprehensive learning solutions for corporates and institutions. With its deep understanding of and expertise in technology-based training initiatives, it also works closely with higher educational institutes to harness the potential of eLearning for their distance learning programs. 24×7 Learning has set up Virtual Campuses across India in Corporates as well as Academia. Taking its leadership into the academic space, 24×7 Learning has launched SkillBridge: an eLearning-based employability enhancement program to bridge the skill gap between Industry and the traditional education system.

24×7 Learning has been awarded the 2006 Red Herring Asia Award and more recently declared a Winner of the Deloitte Technology Fast 50 India 2007. These awards are a testament to 24×7 Learning’s leadership in the eLearning Industry.

Says Karthik KS, CEO, 24×7 Learning, “This partnership is strategic and both companies will leverage upon each other’s strengths and expertise to change the training and education landscape in the country.”

Sarbvir Singh, Managing Director, Capital18 says, “We are very happy to partner with 24×7 Learning. Karthik and Anil are the pioneers in the e-Learning space In India. We look forward to working with them to help build 24×7 Learning’s capabilities in the fast growing e-Learning market”.

About 24×7 Learning

24×7 Learning is a leading consulting, technology services and outsourcing company committed to delivering learning solutions. As India’s largest e-learning implementation company, it enables organizations to be successful globally by upgrading their workforce to compete in the global markets.

Headquartered in Bangalore, 24×7 Learning has regional offices in Mumbai, Delhi, Chennai, Hyderabad, and Kolkata. Some of 24×7 Learning’s marquee clients include: The Aditya Birla Group, Mindtree, Accenture, Samsung, Essar, Mahindra and Mahindra, Murugappa Group, Larsen and Toubro, MindTree, Dell, Satyam and Pepsico.

About Capital18

Capital18 is Network18’s venture capital and private equity arm focused on making investments in media, entertainment and technology ventures. Capital18 aims to be the partner of choice for emerging businesses in the identified verticals with its practical approach to venture investments and an experienced team that can take quick decisions. Our team provides the capital, industry knowledge, operating experience and strategic insights to help our portfolio companies succeed.

About Network18

Network18 is one of India’s leading full play media conglomerates with interests in television, internet, filmed entertainment, mobile content and allied businesses. Through its holding in Television Eighteen India Ltd (TV18), Network18 operates India’s leading business news television channels – CNBC TV18 and CNBC Awaaz. It also runs India’s leading Internet company Web18, as well as one of India’s leading real time news terminal providers, Newswire18. Through its holding in Global Broadcast News Ltd (GBN), Network18 operates in the general news and entertainment space with general news channels CNN-IBN and IBN7, and has announced a joint venture with Viacom to be called Viacom18. This JV will operate the MTV, VH1 and Nickelodeon channels in India – as also Studio18, the Group’s filmed entertainment operation and will be launching a Hindi general entertainment channel. Additionally, Network18 holds the Group’s online & on-air retail venture, Homeshop18. The Group has recently announced forays, organic and inorganic, into event management, regional news and other areas.