Reliance unit buys stake in digital learning firm

Reliance Industries today said its unit Infotel Broadband Services Ltd has acquired a 38.5% stake in privately held digital learning firm Extramarks Education Pvt Ltd.

India's largest-listed company Reliance Industries on Tuesday said its unit Infotel Broadband Services Ltd has acquired a 38.5% stake in privately held digital learning firm Extramarks Education Pvt Ltd.

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It did not disclose the financial details of the investment.

The deal will help Extramarks develop its digital distribution services and expand market penetration, Reliance said.

Last year, Reliance acquired Infotel Broadband, the only company to win a nationwide licence for broadband wireless spectrum in a government auction, for $1 billion, marking its return to the telecom business.