RIL Completes Acquisition Of 73% Stake In AI Firm Embibe


RIL Completes Acquisition Of 73% Stake In AI Firm Embibe

Reliance Industries Limited today said it has completed acquisition of close to 73 per cent stake in artificial intelligence-based education technology provider Embibe.

“RIL, Embibe and the other stakeholders have completed all the closing conditions and have successfully completed the sale and purchase of the shareholding of the existing investors in Embibe to RIL. With this transaction, RIL will hold 72.69 per cent (on fully diluted basis) in Embibe,” RIL said in a BSE filing.

RIL in April had announced that it has entered into agreements to acquire close to 73 per cent stake in education technology provider Individual Learning Private Ltd (Embibe) and plans to invest USD 180 million into the company over the next three years. Read More

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