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Thursday, 20 February, 2014, 15 : 00 PM [IST]

Mercury Travels’ subsidiary Usmart Education acquires Kuoni Academy

Usmart Education Ltd, a wholly owned subsidiary of Mercury Travels Ltd., has acquired Kuoni India’s education division, Kuoni Academy, as per a release. With this strategic alliance, Usmart will have the exclusive licence to use the ‘Kuoni Academy’ brand name for India, South and South East Asia for an initial period of five years along with the transfer of Academy’s employees and business assets. “This alliance will enable Kuoni India to focus on further expansion of its core businesses of leisure and business travel,” said Rajeev Wagle, Managing Director, Kuoni India.

“With a renewed passion for education and growth under Usmart Education Ltd, Kuoni Academy will relentlessly pursue the creation of substantial education value for its students and for the industry,” said Ashwini Kakkar, Executive Vice-Chairman, Mercury Travels.

For a seamless transition and to help grow the business to new heights, both organisations have agreed to have a Non-Executive Director of Kuoni India on the board of Usmart Education.
 
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