Ma Foi Strategic Consultants today said it was acquiring Chennai-based e-learning company Axis-V, a 10-year-old company which provides e-learning solutions, language training and life skills training to the IT industry. Some of its clients include Acer, Cognizant and Ramco Systems.
Ma Foi Strategic Consultants is the second venture of K Pandia Rajan and his wife Latha Rajan. The three months old company was formed by the couple after they sold their stake in Ma Foi Management Consulting to Netherlands-based Randstand.
Post the acquisition, Ma Foi Strategic Consultants will hold 51% stake in Axis-V, in which Rajan and Latha Rajan are already stake holders in their personal capacity. The new outfit will focus on education, analytics and market research. He declined to comment on the acquisition cost.
“With education being one of our key focus areas, Axis-V will enhance our business model. The acquisition will add provide technology support for our businesses,” Rajan said.
He added, while the brand name will be retained, soon it will be expanded to Bangalore and Hyderabad. Axis-V reported a turnover of around Rs 3.7 core last year.
“We are open for more acquisitions in the future on the analytics, business consulting, energy consulting, IT strategy and financial structuring”, said Rajan.
The company will soon set up a subsidiary in supply chain management for automotive and aerospace companies. Based out of Chennai, the subsidiary will also have a presence across 12 industrial clusters and work with SMES, tier 1,2 and 3 suppliers, he added.
The company is also looking to set up a subsidiary in the US too; this will be a Greenfield venture.