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TIPS acquires US-based South Hill Academy- 5-Jul-2012
Chennai: The Indian Public School (TIPS), which runs 10 schools in Tamil Nadu and Kerala, has acquired a 55-year-old school in the US for USD 10 million, a top official said.
Talking to reporters here, TIPS chairman Ashok Kumar said that the school felt the need to expand its presence overseas, so as to give its students a global experience and exposure.
TIPS, which follows the International Baccalaureate (IB) education system now has campuses in Chennai, Coimbatore, Erode, Tiruppur, Karur and Kochi has acquired the Los Angeles-based South Hill Academy for 10 million USD, he said.
The company has now floated a 100 per cent subsidiary in the US to own and operate TIPS South Hill Academy, Kumar said.
"We also have plans to spread in other parts of the world. Now, we are expand our presence in Malaysia, China and Qatar," said Gilbert James, Executive Director, TIPS.
He said it is aiming at 20 more campuses in India and 10 campuses abroad in the next five years.
"TIPS has projected an investment of Rs 300 crore for its expansion plans in the next three years to be funded through debt and equity," he said.
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