Education company CL Educate has completed the acquisition of the Digital Exam Assessment (DEX) business of NSEIT Limited, a step-down subsidiary of the National Stock Exchange of India (NSE), for ₹230 crore.
This acquisition strengthens CL Educate’s position in the fast-growing Rs 7000-crore assessments market in India, which is projected to grow annually at 12 per cent, reaching Rs 13,500 crore by 2028. Digital assessments, the space that CL Educate is specifically entering, accounts for 64 per cent of the assessments market in India, and is projected to grow at an even faster clip of 16 per cent.
The acquisition has an additional earn-out of ₹75 crore linked to FY25 performance, and is in sync with CL Educate’s strategic vision to diversify and expand into adjacent education sectors. DEX is the second-largest player in India’s digital assessments space, with a 20 per cent relative market share.
The DEX business provides scalable solutions across Recruitment & Promotion Exams, Professional Certifications, Vocational Assessments, Entrance Exams, and Employability Enhancement. With this acquisition, CL Educate aims to leverage its 30 years of experience in India’s education space to enhance DEX’s offerings and expand its footprint in the global digital assessment market, estimated at $15 billion.
