Uday Shankar & James Murdoch commit $600 mn to Allen Career Institute
According to media reports, Bodhi Tree Systems, the platform sponsored by Uday Shankar and James Murdoch's Lupa Systems, has chosen to spend $600 million in Allen Career Institute.
The relationship, according to an Allen official, would help the institute extend its offerings and thrive in the digital world.
Allen Career Institute Managing Director Keshav Maheshwari commented that, "The majority of the investment will be utilised for the company's foray into edtech space, followed by expansion of offline centres both in India and overseas. Our partnership with Bodhi Tree will not only help us scale our Indian operations through technology but also fuel our growth journey in the Middle East."
Allen has 138 classroom facilities in 46 cities across India, with a rising presence in the Middle East.
Bodhi Tree Systems is a recently developed platform between James Murdoch, the founder and CEO of Lupa Systems and Uday Shankar, the former president of The Walt Disney Company Asia Pacific and former chairman of Star and Disney India. James Murdoch is the son of media mogul Rupert Murdoch. Allen will be built into a digital education firm of the future by Bodhi Tree Systems, which will take use of its founders' common track experience of establishing consumer businesses.
Shankar and Murdoch announced their collaboration with Viacom18 last week. Viacom18 would get a Rs 13,500 crore investment from Bodhi Tree.
The merger will create one of the country's major television and internet streaming providers.