SSI Ltd said it plans to take a significant stake in IT training major Aptech Ltd and to integrate SSI's education and training business under a combined entity.
As a first step, SSI will buy out the 27.18 per cent promoter stake in Aptech for Rs 245.40 million or Rs 49.75 a share for 4,932,408 shares.
SSI will then make an open offer to raise its stake to over 50 per cent in Aptech.
Finally, the education and training business of SSI will be integrated with Aptech.
However, Aptech will continue to the brand for long term career courses, while Asset and Arena will be the brands for extremely certified courses and multimedia training respectively.
SSI will be the brand for short-term courses in emerging technologies.
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