US-based edtech company PowerSchool is acquiring Chennai-based Neverskip, an edtech platform serving 1.2 million students in India, for an undisclosed sum of $630 million. Apoorav Nischal, managing director and country head, PowerSchool India, said the company plans to expand its global competence center in Bengaluru with a 1,200-seat facility that will be operational by the first quarter of 2024.
The Neverskip platform is used by more than 900 schools including DAV, while PowerSchool has about 70 customers in India.With the acquisition, PowerSchool will immediately add 900 schools and 1.2 million students, he said career line. The company has made about 15 acquisitions in North America over the past 25 years. Still, he added, Neverskip is the first of its kind outside of North America.
PowerSchool provides cloud-based software for K-12 education, while Neverskip is an enterprise resource planning (ERP) software company. “This acquisition combines the power of Neverskip ERP with PowerSchool’s solutions to create a unified technology platform for schools in India,” he said.
Through this acquisition, PowerSchool will provide centralized access to all administrative and learning functions, including admissions, fee management, transportation, student records, homework, assignments, exams, transcripts, parent communication, blended classroom, personalized education and meaningful data analysis.
He added that PowerSchool supports more than 50 million students and more than 15,000 customers worldwide, including 90 of the top 100 US school districts by student enrollment, and sells solutions in nearly 90 countries.
Neverskip has approximately 125 employees. Following the acquisition, its founder J Shankar will continue as Vice President of PowerSchool-Neverkskip. The Neverskip brand will continue to exist, he said.
For India’s GCC, which was established in 2017, Nischal said the company now has around 1,300 employees, out of the company’s global workforce of 3,200.
Together, PowerSchool and Neverskip will provide product support for some of India’s most prominent schools including DAV School Group, Ekya, Maxford, Future Kids, Manipal Schools and SBOA School Group. “The acquisition of Neverskip is an important step in our journey to personalize education for all,” he said.
Industry research shows that the growth of digitization in schools is expected to exceed USD 500 million in the next five years, but also recognizes the scalability of the Indian ERP market to reach USD 1.04 billion by 2028. All this is expected to increase demand and demand for technology-driven learning solutions. Nischal said PowerSchool will continue to provide cloud-based technology to help schools embark on their digital journey, in line with India’s new education policy.
