Hyderabad: Education in Hyderabad is going to get an International touch after one of the best private schools in Hyderabad- the Oakridge International is reported to have been bought over by a Hong Kong-based company the Nord Anglia Education.
According to top sources in the education sector, the Oakridge International has been bought for an estimated Rs 1,500-1,600 crore and has been concluded only weeks ago.
Apart from two campuses in Hyderabad – at Gachibowli and Bachupally the Oakridge International also has branches in Visakhapatnam, Bengaluru and Mohali.
The school is managed by People Combine, an education management and consulting company that was set up about two decades ago by two Indian School of Business (ISB) alumnus Naga Prasad Tummala and Y V Rajasekhar.
“While the deal was signed a few weeks ago, the proprietors sent out a communication to the Hyderabad CEOs’ Forum on February 5,” said a city industrialist, who is part of this exclusive group.
“It states that the existing proprietors have exited and the school is now part of the Nord Anglia Education family, a global organisation with more than 60 premier K-12 schools in more than 30 countries.”
Speaking of the Hong Kong group’s website, the company describes itself as offering “personalised, inspiring learning to more than 61,000 students between 2 and 18 years,” that is spread across Asia, Europe, the US and the Middle East.
With this acquisition, Nord Anglia Education will have a venture in India.
When the management was contacted, Rajasekhar did not give in financial details of the deal.
He only said: “We cannot say it’s been sold… but there is some change in the People Combine management. We will let you know details later.”