NSE IT completes sale of digital exam assessment business to CL Educate

NSE IT, an arm of the National Stock Exchange of India (NSE), has announced the successful closure of the sale of its digital exam assessment (DEX) business to CL Educate.

 

DEX is the second-largest player in India’s digital assessments space, with a relative market share of over 20 per cent. The DEX business provides solutions across recruitment and promotion exams, professional certifications, vocational assessments, and entrance exams.

 

The sale is valued at Rs 230 crore, with an additional earn-out of Rs 75 crore linked to FY25 performance.

 

NSE managing director and CEO, Ashish Chauhan, said, “This transaction demonstrates NSE’s intent to focus on its core business and divest from non-core business areas. The acquisition of the DEX business by CL Educate is a testament to the quality and potential of the business NSE has built.”

 

 

With the acquisition, CL Educate aims to strengthen its position in the assessments market, which is valued at around Rs 7,000 crore in India and is projected to grow at a compound annual growth rate (CAGR) of 12 per cent, reaching Rs 13,500 crore by 2028.

 

Digital assessments account for 64 per cent of the assessments market in India and are projected to grow at an even faster rate of 16 per cent.

 

“This acquisition is a transformative step in our journey, enabling us to bring digital assessment solutions to students, institutions, and corporations worldwide with the proven capabilities of DEX,” said Satya Narayanan R, chairman, CL Educate.

 

Shares of CL Educate on Monday last closed at Rs 125.