McGraw-Hill acquires shares in joint venture with Tata Group
McGraw-Hill Education has completed the acquisition of Tata McGraw-Hill Education Private Limited's entire shares. Tata McGraw-Hill is the digital learning company's joint venture with Tata Group.
The long-existing joint venture, which was formed in 1970, took the lead in giving solutions to higher education, test prep market and professional needs of India.
"As India has made great strides in developing its economy, its need for an educated, skilled workforce has increased enormously," Buzz Waterhouse, McGraw-Hill Education's president and chief executive officer, said in a statement.
"We're extremely proud of Tata McGraw-Hill's success in preparing India's students to thrive in the global knowledge economy, and through this acquisition, we're deepening our commitment to improving education and results for students around the world," Waterhouse added.
Details of the acquisition were not revealed but it has disclosed that the company will modify its name to McGraw-Hill Education India Private Ltd.