Veranda XL Learning acquires Logic Management Training Institute

Veranda Learning Solutions Ltd. (VLS) announced that its subsidiary Veranda XL Learning Solutions Pvt. Ltd. had entered into a business transfer agreement with Kochi-based Logic Management Training Institute Pvt. Ltd. to acquire the latter’s business with effect from April 1.

The payout will be made in tranches from FY25 to FY29. The consideration with respect to business transfer will be in the form of cash and shares at the discretion of VXL Learning.

The total payout has a floor price of ₹46 crore and a maximum cap of ₹75 crore, the education firm said in a regulatory filing.

Logic Management is engaged in the business of providing training of students for competitive examinations. In FY23, it posted a turnover of ₹16 crore and net profit of ₹92 lakh.