Core Projects buys K-12 divn of Princeton Review

Core Projects & Technologies Ltd (Core), provider of end-to-end solutions in the education domain has acquired a unit of the US-based education company, The Princeton Review Inc (TPR) for about $20 million, the company said in a release to the Bombay Stock Exchange.

The acquisition of the K-12 Division of TPR will be completed through Core’s wholly owned subsidiary Core Education & Consulting Solutions Inc, US (CECS). The acquisition is expected to be funded out of debt being raised by CECS. The acquisition will add about $24 million to Core global revenues, and is expected to yield an EBITDA of 24% in the first full year of operations.