Educomp up 9%, arm in JV with Ebix Software to form new company

Moneycontrol BureauShare price of Educomp Solutions rose 9.3 percent intraday Monday as its subsidiary company has entered into joint venture agreement with Ebix Software to incorporate new company.The company's indirect subsidiary Educomp Software has entered into a joint venture with Ebix Software India to incorporate new company by name of Ebix Educomp Learning.Educomp Software holds 49 percent in Ebix Educomp Learning and remaining 51 percent is held by Ebix Software India."The purpose of the joint venture is to bid for education related government tenders wherein Ebix Software India and Educomp Software will complement their operating expertise and target large tenders, with Ebix Software India also acting as the funding partner," as per company's press release.At 09:30 hrs Educomp Solutions was quoting at Rs 14.13, up Rs 0.96, or 7.29 percent on the BSE.Posted by Rakesh Patil