"We've about a 35 percent stake," a company spokesman said. He didn't say how much NIIT is paying.
The investment is NIIT's third in a computer-related company this year. In May, it bought a minority stake in OneWeb Systems Inc, an Atlanta-based company that creates and services Web sites for clients. In January, NIIT acquired a minority stake in Relativity Technologies Inc, a company based in Cary, North Carolina which makes software that helps companies move online.
Classteacher, founded by three engineers from Indian Institute of Technology, provides children with "personalized" learning courses in addition to what is taught in school, the spokesman said.
The investment will help NIIT strengthen its software and electronic commerce solutions business, which accounts for nearly 60 percent of sales. Third-quarter sales rose 34 percent to 2.01 billion rupees (US$44.8 million), NIIT said.
NIIT earlier this month said profit rose 27.9 percent to 780.2 million rupees (US$17.3 million) in the three months ended June, from 609.8 million rupees (US$13.6 million) in the year-ago period.
The gain in profit, though, didn't match Infosys Technologies Ltd and Satyam Computer Services Ltd--two of India's biggest software developers--both of who said first-quarter earnings had doubled.
NIIT shares, which have declined 50 percent this year, rose 30 rupees (US$0.66), or 2 percent, to 1,649 rupees (US$36.7) on the Mumbai stock exchange Friday.
Play video
There are currently no comments for this post.