Ma Foi acquires Axis-V e-learning company

Chennai, July 25 (IANS) City-based Ma Foi Strategic Consultants operating in the field of strategic consulting, market research and management education ventured into e-learning domain by acquiring 51 percent stake in Axis-V for an undisclosed sum, said a company official Wednesday.

"We have acquired 51 percent stake in Axis-V. My wife and I had initially invested for a small stake," K. Pandiarajan, founder and managing director Ma Foi Strategic, told reporters here.

However, he declined to share the price at which the majority stake in the Rs.3.7 crore revenue Axis-V was acquired.

Ma Foi Strategic is open for more acquisitions of companies operating in the areas of analytics, business consulting, energy consulting and other areas.

According to S. Shivkumar, managing director of Axis-V, the company majorly caters to corporates and education institutions' needs of learning.

Shivkumar holds 24 percent stake in the company and the balance is held by individual investors.