Dialog Axiata buys into Sri Lanka e-learning firm
ECONMYNEXT – Mobile phone operator Dialog Axiata has bought a 26 percent stake in HeadStart (Pvt) Ltd., a firm creating and supplying e-learning content in Sri Lanka.
A stock exchange filing said Digital Holdings Lanka, a Dialog subsidiary, acquired the stake after converting bonds worth 20 million rupees issued by HeadStart.
HeadStart has been a strategic partner of Dialog in digital education having managed the island’s digital education portal Guru.lk through an exclusive managed services agreement with the company.
As part of the partnership, Dialog has taken up a total of 60 million rupees of convertible bonds issued by HeadStart and assigned to Digital Holdings Lanka.
Digital Holdings Lanka retains the option to convert the residual bonds in full or part to additional equity in HeadStart.
(Colombo/January 06, 2016)