Friday, July 22, 2011

BlackBerry ties up with EdServ for mobile education

Eyeing leadership status in the mobile education space, Chennai-based education support services company EdServ has tied-up with BlackBerry to provide online education content on smartphones. EdServ's wide range of educational content on its flagship education portal, www.Lampsglow.Com, will now be available in an application, 'HumThum App', in the BlackBerry Apps Store of BlackBerry smartphones worldwide, said EdServ Chairman and CEO S. Giridharan.

"Through this tie-up with BlackBerry, we will provide the entire online education content that includes tuition, academics, skill development and test prep services on the BlackBerry smartphone," he told PTI here. EdServ is targeting a customer base of one crore and revenues of Rs. 200 crore (Rs. 2 billion) from mobile learning services within the next three years and is eyeing leadership status in the mobile education space, he said.

EdServ's 'HumThum app' has a PDF converter that will change the BlackBerry smartphone into a mobile scanner or a photocopier. HumThum app also has a 'Talking Dictionary' that will provide pronunciation and the meaning of any English word.

On the overall growth proje ctions for EdServ, he said the company expects to register a 50 per cent growth in revenues this year and is targeting to end the year with revenues of Rs. 180 crore (Rs. 1.8 billion), compared to Rs. 122 crore (Rs. 1.22 billion) last year. It expects to maintain profitability at 30 per cent of the topline and is targeting a profit after tax of Rs. 55 crore (Rs. 550 million) this year. EdServ expects 100 per cent growth in customer traffic on its portal, www.Lampsglow.Com, this year, he said. The customer base was also expected to more than double this year from the existing customer base of 150,000, he said.

Answering a query about investment plans, Giridharan said the company was finalising plans to raise capital for ongoing expansion and infrastructure development and the funds could be raised through Foreign Currency Convertible Bonds and GDRs to be rolled out by the middle of August this year.

Source: www.smartinvestor.in
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