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  Oct 03, 2011 EdServ ties up with To expand user base by 3.5million  
  • In talks with a Big4 Audit Firm to adopt IFRS accounting
  • Dainik Bhaskar picks up 2.7% stake in EdServ for Rs.15cr
  • Buys out CA/CS/CWA/IFRS content from Prosel Ventures for Rs.35cr
Chennai based Education Support Services Company EdServ has announced that the company has tied up with, a Hyderabad based information portal of educational resources, to offer its online courses for IITJEE, AIEEE, CA & IT skills tothe registered users of Through this tie up, EdServ plans to expand its user base by over 3.5million students. EdServ will also expand its presence in Andhra Pradesh by taking its online Test Prep products to concept schools across the state.

S. Giridharan, Chairman and CEO, EdServ said, "With Andhra Pradesh emerging as a major destination for integrated IIT coaching, students in classes 8th to 12th are looking for more resources including taking the eLearning platform to become better equipped. We believe this tie up will help us expand our student base in AP and also achieve a faster penetration for our online Test Prep course in Schools."

To Implement IFRS Accounting

EdServ also announced that the company is in talks with a Big4 Audit firm for implementation of IFRS (International Financial Reporting Standards) accounting. IFRS are a set of accounting standards developed by the International Accounting Standards Board (IASB) that is seen as a global standard for the preparation of financial statements.

Ties up with Nokia

Last week, EdServ entered into an agreement with Nokia to provide its education content on Nokia Smart Phones whereby students can now access its wide range of Educational content including Tuition, Academics, Skill Development, and Test Prep Services, on the Nokia smart phones through the HumThum apps. EdServ is targeting a subscribed user base of 1crore with its mobile apps.

EdServ, which has now tied up with Samsung, Blackberry and Nokia, is also in talks with other leading mobile manufacturers to further expand its reach in the mobile education segment.

Strengthens presence in CA/CS/CWA Segment

EdServ has bought out the eLearning Online content of Prosel Ventures for Rs 35 crore in an all stock deal. Prosel Ventures is a Chennai based company specialising in online content for CA, CS, CWA and IFRS including through video lectures and animated content.

Dainik Bhaskar picks up 2.7% Stake in EdServ

Dainik Bhaskar Corp Ltd., the country's leading Hindi daily, is investing Rs.15 crore for a 2.7% stake in EdServ through the issue of fully convertible equity warrants.

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