TeamLease acquires stake in Schoolguru Eduserve

TeamLease Services Limited, a staffing company, has acquired a stake in Schoolguru Eduserve Private Limited, an online learning company.

Schoolguru is a technology-led academic services organization established in 2012. The company has partnered with Indian Universities to provide online and virtual courses for their students.

According to a release, the signing of a definitive agreement under which TeamLease will acquire about 40% stake in Schoolguru has taken place. The transaction remains subject to customary closing conditions and regulatory approvals and is expected to close before the end of November 2017. "Schoolguru will continue to operate as a separate and independent entity," according to the release issued by TeamLease.