Mumbai, Jan 31 (PTI) Education company CL Educate on Friday said it has acquired the Digital Exam Assessment (DEX) business of NSEIT, a step-down subsidiary of the National Stock Exchange of India (NSE).

This acquisition strengthens CL Educate's position in the fast-growing assessments market, valued at around Rs 7,000 crore in India and projected to grow at a CAGR of 12 per cent, reaching Rs 13,500 crore by 2028, the company said in a statement.

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It is, valued at Rs 230 crore upfront, with an additional earn-out of Rs 75 crore linked to FY25 performance, aligns with CL Educate strategic vision to diversify and expand into adjacent education sectors, the statement added.

"This acquisition is a transformative step in CL Educate's journey, enabling us to bring cutting-edge digital assessment solutions to students, institutions, and corporations worldwide with the proven capabilities of DEX.

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“Together, we aim to redefine the future of assessments with innovation and scalability," CL Educate Chairman Satya Narayanan R added.

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