New Delhi, Sep 5 (IANS): Global edtech leader PowerSchool on Tuesday announced the acquisition of Chennai-based enterprise resource planning (ERP) software company Neverskip.
With this acquisition, PowerSchool will expand its reach to over 900 schools and 1.2 million students in India and will set a foundation for growth to support the larger Indian education market.
"Our acquisition of Neverskip is an instrumental step in our journey to provide personalized education to all and we are excited to welcome their employees and customers to PowerSchool," Hardeep Gulati, Chief Executive Officer of PowerSchool, said in a statement.
PowerSchool will also extend its best-in-class technology by providing centralised access to all administrative and learning functions, including admissions, fee management, transport, student records, homework, assignments, examinations, report cards, parent communication, blended classrooms, personalised education, and meaningful data analytics.
"As a leader in education innovation, PowerSchool will continue to provide cloud-based technologies to enable schools in their digitisation journey aligned with India’s New Education Policy (2020)," said Apoorav Nischal, Managing Director and Country Head, PowerSchool India.
Over the last two decades, PowerSchool has established itself as one of the front runners in the global edtech ecosystem, catering to over 50 million students in over 90 countries, the company said.
PowerSchool reported $630 million in revenue in 2022, with a valuation of $4.3 billion, and forecasts a revenue target of approximately $690 million for 2023.
The brand’s user-friendly Learning Management System (LMS), Schoology Learning, supports over 60,000 schools globally.
“As demonstrated by their globally renowned products, especially Schoology Learning, PowerSchool has truly redefined personalised education. This step enables us to expand our solution suite and value to customers and dramatically expand our scale and reach” said Shankar Jambulingam, Founder and Chief Executive Officer at Neverskip.
With this acquisition, PowerSchool and Neverskip will now support some of India’s most renowned schools, including, D.A.V Group of Schools, Ekya, Maxford, Future Kids, Manipal School and SBOA Group of Schools with its products.