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19 Aug 2009 EdServ to invest Rs 2 crore on brand building

EdServ, a Chennai based education software company, has ear marked an investment of Rs 2 crores for brand building of its products in the next 18 months. The company's board has approved the issue of 2.27 lakh equity warrants to its promoters at Rs 88 per warrant, for this purpose. The promoters of EdServ, who currently hold 29% in the company, have agreed to subscribe to the warrants fully.

"We foresee fund requirements to augment the on-going brand promotions for the company's products including for our recently launched EdCademy Off-Campus AE. We believe these products supporting the students' academic performance in higher education segment when branded well will fuel the company's growth substantially," said EdServ CEO S Giridharan.

EdServ's recently launched EdCademy off-campus AE is an e-learning based assessment framework and targets around 4 lakhs students of Anna University affiliated colleges. The company, employing 100 people, posted revenues of Rs8.44 crore and net profit of Rs 3.69 crore for In 2008-09. It has provided exam and job related services to over 10,000 students.

The company has also signed a one year MOU with Manonmaniam Sundaranar University (MSU) in Tamil Nadu, to offer eLearning diplomas in object oriented programming, web application development, soft skills & personality development, office automation, finance, HR & sales management. The company expects to enroll 15000 students in these courses. It has set a revenue target Rs 15 crore for this year.

(C) 2009 EdServ Softsystems Limited, Chennai, India.