Oakridge International, Hyderabad’s best known private school, has been bought over by the Hong Kong-based company, More Anglia Education. The details of the deal was refused by the school management but top sources in the education sector said the chain of schools has been taken over for an estimated Rs 1,500-1,600 core. One of the biggest transaction in the sector in Hyderabad, concluded only weeks ago.
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Oakridge International also has a branch each in Visakhapatnam, Bengaluru and Mohali apart from two campuses in Hyderabad -at Gachibowli and Bachupally. Two decades ago by two Indian school of Business (ISB) alumnus Naga Prasad Tummala and Y V Rajasekhar, it is managed by people combine, an education management and consulting company set up.
Oakridge post buying
“While the deal was signed a few weeks ago, the proprietors sent out a communication to the Hyderabad CEO’s Forum on February, “said a city Industrialist, who is part of this exclusive group. ” It states that the school is now part of the Nord Anglia Education family, a global organisation with more than 60 premier K-12 schools in more than 30 countries and the existing proprietors have exited. “
The Hong Kong group describes itself as offering “personalised, inspiring learning to more than 61,000 students between 2 and 18 years, on its website.” Nord Anglia Education does not have a venture in India while it has an expansive footprint across Asia, Europe, the US and the Middle East.
Rajasekhar refrained from commenting on the financial details of the deal but admitted to a shift in management, when contacted. “We cannot say it’s been sold but there is some change in the People Combine management .We will let you know the details later, “he said.