Noida based corporate learning company G-Cube, owned and operated by G-Cube Webwide Software, has been acquired by MRCC Group, a technology conglomerate headquartered in Boston.
The company did not disclose the financial details of the transaction. However, a person familiar with the development said MRCC acquired the company for more than Rs 100 crore.
The association will enable G-Cube to leverage various group strengths such as a physical presence in different geographies, access to a vast network of industry vertical experts and expertise from the MRCC group. It will also bring in investments in designing innovative solutions both for content services and LMS (learning management system) businesses, G-Cube said in a statement.
Founded by Manish Gupta and Kapil Gupta, G-Cube is a 21-year-old company which provides learning management solutions to enterprises across industries, including companies such as Lufthansa, Yamaha and Mercedes Benz.
“This coming together of G-Cube and MRCC Group is positioned to disrupt the corporate learning industry. The benchmarks created by G-Cube will now get new wings and vigor. Our customers can now be assured of highest degree of innovation fuelled by G-Cube's rich experience in learning domain and MRCC’s expertise in solving industry specific challenges across the globe for over 25 years now,” Gupta said.
“As the corporate learning market matures, we envision many more consolidations, nurturing many like-minded mergers in the industry to bring in top value players to the fore,” said Anil Shah, chairman of MRCC Group.
With more than 2,600 employees and offices in the US, India and Australia, MRCC operates in the IT staffing, corporate learning, educational publishing and digital space in diverse sectors, including aviation, banking, software and healthcare. It has over 1,200 learning projects.
The acquisition will give MRCC access to over 2 million subscribers of G-Cube.