MPS To Acquire Tata Interactive Systems
MPS Limited (MPS) and Tata Industries Limited (TIL) announced that they have entered into definitive agreements for the acquisition of TIL’s enterprise e-Learning business. Through this acquisition, MPS will acquire Tata Interactive Systems India (a division of TIL), Tata Interactive Systems AG, and Tata Interactive Systems GmbH. The transactions are likely to close in the next several weeks, subject to the fulfillment of customary closing conditions and shareholders’ approval of TIL.
Over the last 27 years, Tata Interactive Systems (TIS) has established itself as a pioneer in technology-enabled learning. The company's innovative products and strategic learning advisory services are driven by excellence in learning and development and process efficiency. The German and Swiss subsidiaries, acquired by TIL in 2005, have gained considerable reach in European markets through their unique platforms TOPSIM® and Quizbiz®. TIS has consistently featured in the Top 20 list of Training outsourcing companies, content development companies, and gaming companies.
Milind Shahane, currently the CEO of TIS and Tata ClassEdge, will continue to be the CEO for both entities till closing of the transaction after which he shall continue in the role of CEO for Tata ClassEdge.