Aptech acquires 100 percent stakes of MAAC

Aptech Ltd, an IT education and training centre has recently acquired 100 per cent stakes of Maya Academy of Advanced Cinematics (MAAC). The key shareholders of both companies signed an agreement to this effect. The deal is valued at Rs 76 crore and is structured to include a cash payout as well as issue of equity shares of Aptech Ltd to the shareholders of Maya Entertainment Ltd (MEL, the parent company of MAAC).

MAAC is one of the largest players in the Animation and Multimedia education industry. It is a premium brand with over 70 centres spread throughout India, which includes company-owned, semi-owned and franchised centres. Aptech, already a global education major, has further consolidated its domination through this move.

As told to Ramanjit Kaur of FIHL, “With this acquisition, Aptech has moved further to become a global education powerhouse. MAAC, with its team of committed employees and franchisees, is a strong brand in the animation education space. We intend to further strengthen the brand and its centres. It is also a clear reflection of our strong belief in the bright future of the animation industry in India and abroad,” says Ninad Karpe, CEO and MD, Aptech Ltd.

Aptech Ltd is going to adopt a dual brand strategy to strengthen the presence of both Arena Animation and MAAC. Arena Animation is an Aptech brand, which is known worldwide for its Animation and Multimedia education.

Commenting on this acquisition, Niraj Bhukhanwala, Director, MEL said, “The management of MAAC felt that through this integration, MAAC and Aptech will be able to harness all the benefits of a large company in a growing market and keep competition at bay. Through this, both the brands will be able to capitalise on each other’s strengths - particularly in the area of branding and product development. We are confident that this deal will enable both the brands to reach greater heights.”

At present, Aptech has a network of over 1000 centres spread over 35 countries; Aptech already owns well-recognised brands, namely, Aptech Computer Education, Arena Animation, N-Power, Avalon Academy, English Express and Aptech Worldwide.