The Company has completed acquisition of 2,62,000 equity shares of Theia Education Private Limited in accordance with Rights Issue letter of offer dated November 14, 2025
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ACE Software Exports Ltd has completed the acquisition of 2,62,000 equity shares of Theia Education Private Limited (TEPL), an AI-based EdTech company, giving it a 50.38% stake in the fully diluted equity share capital. The purchase was made through 1,60,000 shares via private placement and 1,02,000 shares from existing shareholders, for a total cash consideration of approximately ₹9.03 crore, funded through the proceeds of the company's Rights Issue (Letter of Offer dated November 14, 2025). Theia Education, incorporated in 2023 and based in Ahmedabad, reported revenues of ₹100.66 lakh in FY2025 and ₹197.88 lakh in FY2024. The company has indicated it will acquire the remaining 1,02,000 equity shares in due course, which would take its holding higher than the current 50.38%.
This move marks ACE Software Exports' diversification into the AI-driven EdTech space, complementing its existing technology expertise. For shareholders, the acquisition is a strategic shift beyond the core business, and the success of this new vertical will depend on TEPL's growth trajectory, given that its revenues actually declined from FY2024 to FY2025. The use of Rights Issue funds means existing shareholders are funding the acquisition, and any future value creation will depend on the EdTech venture scaling up.