Thinkcell Learning Solutions Pvt Ltd, formerly GATEFORUM Educational Services, has acquired Mumbai-based online aptitude test solutions provider, Testfunda.com of Enabilon Learning Pvt Ltd, for an undisclosed sum.
Announcing this at a press conference in Hyderabad on Wednesday, Mohit Goel, CEO and MD, Thinkcell, said his company will diversify its offerings beyond GATE preparation. It plans to invest ₹30 crore over the next three years, in expansion.
Founded by alumni of IIT and IIM in 2008, Testfunda offers online preparatory tests for admission into management courses and bank exams, among other competitive tests.
“We have also acquired Yukti in Mumbai, to start a science division for students from class VIII to XII, who are preparing for engineering and medical entrance exams. In addition, our vertical, LogiQuest, will offer services to those preparing to go abroad for various courses,’’ he said.
The Hyderabad-based firm is also offering online preparatory tests for bank recruitment and other key competitive examinations of Union Public Service Commission.
The company clocked a turnover of ₹42 crore during 2014-15 and expects to increase the number to around ₹47 crore in the current financial year. With recent acquisitions and diversification, it hopes to reach ₹75 crore turnover by 2016-17.