Educomp Solutions Share price

History and Certain Corporate MattersIncorporationThe Company was incorporated in Sept 1994 as a Private Limited Company by Mr. Shantanu Prakash an alumnus of Indian Institute of Management Ahmedabad and Dr. Anjlee Prakash Ph.D. in cognitive sciences. Since inception till 1999 the Company was engaged in the business of setting up and maintaining of computer labs in private schools under BOOT model and in government schools under subcontract awarded by Government of India Undertakings.The Company launched eCampus in 1998 and PlanetVidya.com - an educational portal in 1999. In 2000 the Company started its trading operations with CD-ROMs and added educational toys in 2003. In June 2000 Carlyle a U.S Investment company made a strategic investment amounting to $ 2.10 million (amounting to Rs 1087 lacs) for a 15% equity stake in the Company. On 18th September 2000 the Company was converted from private limited company to a public limited company. In 2002 the Company entered the e-learning space with its Learning Mate division and launched Learning Mate Nhance a learning Content Management platform. In 2002 the company also set up its fully owned subsidiary Edumatics Corporation in US.The Company launched Smart_ClassTM Content solutions in June 2003 a novel concept in Education space which is aimed at transforming an entire classroom into a Technology enabled classroom.In 2003 the Company floated a subsidiary by the name of Learning Mate Solutions Pvt. Ltd. Furthermore pursuant to a Business Transfer Agreement dated August 29 2003. (Refer section on Shareholders Agreement on Page 79)the shareholding of the Company in Learning Mate Solutions Pvt. Ltd. was transferred to the management team and assets and liabilities pertaining to the e-Learning division of the Company were also transferred to Learning Mate Solutions Pvt. Ltd. The Carlyle group extended further funding to this company and took up a majority stake in the same.The Company today is one of the leading providers of technology enabled education solutions and services for K-12 (Kindergarten to Class 12) institutions. The Company has 844 employees operating out of over 9 locations in India.In August 2004 the Company entered the US market with the signing of a US pilot project with Franklin Elementary School Santa Barbara California U.S.A. The company has also entered the Asia Pacific Market with pilot projects at Cedar Girls School Singapore in November 2004. The company has successfully executed the pilot projects.The Company also launched "Online Tutoring" for teaching mathematics to the students in the US in 2005.In July 2005 Carlyle exited from the company by selling its stake in the company to the promoters in return for the promoters relinquishing their stake in Learning Mate Solutions Pvt. Ltd.Milestones achieved by the CompanyYear Event1994 Incorporation of Company1998 Launched eCampus ?a student information system1999 Launched PlanetVidya.com a portal2000 Strategic investment by the Carlyle Group Conversion to Public Limited Company Entry into trading operations2002 Set up a fully owned US subsidiary Edumatics Corporation Launched Learning Mate NHance a Learning Content Management Platform2003 Launched Smart_ClassTM Content Solutions Divested the international custom content business to Carlyle2004 ISO 9001: 2001 certification for ICT solutions Signed US pilot with Santa Barbara School Districts Entered the Asia Pacific market with pilots in Singapore2005 Launched Online Tutoring services Exit of Carlyle.