Mumbai-based Aptech, a retail and corporate training solutions major, has signed a joint venture with New Life Group Inc a Philippines-based company, to expand its retail presence in the country.
The JV will be shared in the ratio of 60:40 in favor of New life Group Inc and Aptech, respectively.
Ninad Karpe, CEO & MD, Aptech said, “With the JV, we can look to carry the Aptech brand and its expertise in Philippines and addressing the retail market with ACCP and other related ICT courses. The demand for IT education in Philippines is evolving rapidly and value-added services such as technical support and product troubleshooting along with basic IT and hardware consulting are on the rise. Our programmes will aim to deliver the best benefit to students in terms of enhanced employability options upon their completion.”
The Philippine IT market is expected to be a regional outperformer over the next few years with a projected increase in spending from the present $2.4 billion to around $3.6 billion in 2013.
In a media statement, Aptech said that the JV will also serve to expand the scope of the retail and training brands of Aptech, namely Aptech Computer Education, Arena Multimedia, Avalon Academy, English Express and N-Power across Cambodia, Philippines and Laos.
Aptech's scrip was trading at Rs 184.50, up 2.76 per cent on the Bombay Stock Exchange this afternoon.
