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The Company was incorporated in Sept 1994 as a Private Limited Company by Mr. Shantanu Prakash, an alumnus of Indian Institute of Management, Ahmedabad and Dr. Anjlee Prakash, Ph.D. in cognitive sciences. Since inception till 1999, the Company was engaged in the business of setting up and maintaining of computer labs in private schools under BOOT model and in government schools under subcontract awarded by Government of India Undertakings. The Company launched eCampus in 1998 and PlanetVidya.com - an educational portal in 1999. In 2000, the Company started its trading operations with CD-ROMs and added educational toys in 2003. In June 2000, Carlyle, a U.S Investment company made a strategic investment amounting to $ 2.10 million (amounting to Rs 1087 lacs) for a 15% equity stake in the Company. On 18th September 2000, the Company was converted from private limited company to a public limited company. In 2002, the Company entered the e-learning space with its Learning Mate division and launched Learning Mate Nhance, a learning Content Management platform. In 2002, the company also set up its fully owned subsidiary, Edumatics Corporation, in US. The Company launched Smart_ClassTM Content solutions in June 2003, a novel concept in Education space, which is aimed at transforming an entire classroom into a Technology enabled classroom. In 2003, the Company floated a subsidiary by the name of Learning Mate Solutions Pvt. Ltd. Furthermore pursuant to a Business Transfer Agreement dated August 29, 2003. (Refer section on Shareholders Agreement on Page 79),the shareholding of the Company in Learning Mate Solutions Pvt. Ltd. was transferred to the management team and assets and liabilities pertaining to the e-Learning division of the Company were also transferred to Learning Mate Solutions Pvt. Ltd. The Carlyle group extended further funding to this company and took up a majority stake in the same. The Company today is one of the leading providers of technology enabled
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