Education company Educomp Solutions today picked up a majority stake in test preparation company Gateforum Educational Services. It will provide preparatory tools for Graduate Aptitude Test in Engineering (GATE),the sole entrance test for admission to post graduate courses in technical institutes such as IITs and NITs. Educomp investment in Gateforum Educational Services is aimed at expanding presence and reach in the test preparation segment,Educomp Solutions said in a statement. However,the company did not disclose the financial details of the deal. The alliance with Gateforum is another leap forward in Educomps vision to create a strong presence across the education value chain, Educomp Solutions CEO & MD Shantanu Prakash said. Gateforum is already present in more than 40 cities in the country through a mix of own and franchisee centers and has been a pioneer in offering several products including eTutor (online coaching) and classroom based all India test series for students preparing for GATE. **** Chisel & Hammer acquires Dubai jewellery firm * Furniture maker Chisel & Hammer (Mobel) Ltd today said it has acquired Dubai-based Superfine Jewels FZE under its plan to diversify into other businesses. Superfine Jewels FZE is an established company engaged in trading exquisite gold and diamond jewellery in and around UAE,Chisel & Hammer (Mobel),belonging to Baid Group,said in a filing with the Bombay Stock Exchange. The acquisition of Superfine Jewels FZE is yet another step in our investment-led growth strategy. This business will support our portfolio especially in exports, said Pushpesh Baid,Managing Director,Baid Group. Further as a part of our overall strategy,we will continue on the path of mergers and acquisitions that complements our entire jewellery portfolio, he added. However,the company did not disclose any financial details of the deal. The acquisition is integral to Baid Global Ventures overall strategy and will strengthen its trading business accelerating jewellery sale in the Middle Eastern markets.
