Veranda approves divestment of its Vocational segment to SNVA

Chennai, Sept. 26 -- Veranda Learning Solutions, a listed enterprise offering end-to-end education solutions, has approved the divestment of its entire Vocational segment comprising Brain4ce Education Solutions (Edureka), Veranda Management Learning Solutions (Veranda Higher Ed) and Six Phrase to SNVA EduTech Limited (SNVA), a global education and skilling enterprise withits learners in over 60 countries for a consideration other than cash, subject to shareholders' approval.

SNVA EduTech will issue shares to Veranda and its subsidiary, giving them a joint 50% stake in SNVA Edutech Limited.

This move is a big leap under the Veranda 2.0 strategy, aimed at sharpening business focus, accelerating growth and deliveringlong-term shareholder val...