Capital Gain

Irish OLIVE Group acquires Kerala’s Ofabee

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OLIVE Group, an e-learning company based in Ireland, has acquired Ofabee, a home-grown business-to-business and a Software-As-A-Service (B2B, SaaS) platform for an undisclosed amount. Ofabee helps coaching and training institutes launch of their own coaching apps.

Post-acquisition, the Ofabee online platform, originally a product of Enfin Technologies incubated under the Kerala Startup Mission (KSUM), will be merged with OLIVE Group’s Mykademy.com, which would facilitate the eventual migration of its customers to the new platform.

The entire Ofabee team will now join Mykademy and will be based out of Thiruvananthapuram, a spokesman said. Ofabee has raised seed funds from the Startup Mission and the Center for Innovation, Incubation and Entrepreneurship. It has also signed up with some of the leading educational institutions and a number of tutors across India.

 

Talks with multiple investors

“We remain committed as a team towards our joint vision. Together, we hope to further accelerate the growth of Mykademy as we continue to enhance and build the most powerful and engaging course delivery platform for tutors and training institutions,” said Ayyappan Asokan, Co-founder, Ofabee.

The acquisition will make Dublin-headquartered OLIVE group’s Mykademy.com more robust and feature-rich to train institutes and tutors worldwide.

Easy navigation on platform

Brendan Kavanagh, Chairman and Chief Executive Officer, said “I welcome the Ofabee team to OLIVE Group as we continue our efforts to provide deeper value to our customers.” Kailas Satheesan, Chief Financial Officer and Chief Executive Officer, OLIVE Group India, said that the company is excited to enter the Indian training and coaching industry by acquiring Ofabee. “We hope we will be able to leverage this product and resources and serve the cause of Mykademy better,” he added.



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