Aptech signs joint venture with New Life Group to expand its retail business in Philippines
Dec 2009:Aptech Limited, a global retail & corporate training solutions major, has signed a Joint Venture contract with New Life Group Inc, a Filipino Company to expand its presence in the country.
The Joint Venture will be shared in the ratio of 60:40 in favour of New life Group Inc & Aptech respectively.
The JV will also serve to expand the scope of the retail training brands of Aptech, namely Aptech Computer Education, Arena Multimedia, Avalon Academy, English Express & N-Power across Cambodia, Philippines and Laos. The Philippine IT market is expected to be a regional outperformer over the next few years, with the Information Technology report Q4 2009 projecting an increase in spending from a projected US $2.4bn this year to around US $3.6bn in 2013.
At the signing of the JV in Philippines, Ninad Karpe, CEO & MD, Aptech Limited, said, “With the JV, we can look to carry the Aptech brand and its expertise into Philippines & address the retail market with ACCP and other related ICT courses. The demand for IT education in Philippines is evolving rapidly & value-added services such as technical support and product troubleshooting along with basic IT and hardware consulting are on the rise. Our programs will aim to deliver the best benefit to students in terms of enhanced employability options upon their completion.”
Speaking on the occasion, Ram Sitaldas, renowned entrepreneur & CMD, New Life Group, shared, “Through this alliance, we are bringing the core values of Aptech - as a global learning solutions provider - and New Life Group together. The knowledge of the local market across Philippines that New Life Group brings is unmatched and we aim to marry both these elements to create a sustainable, scalable model in our country”.