UPDATE 1-Pearson takes control of India's TutorVista
* UK firm pays $127 mln to up stake to 76 pct
* Says deal will boost its online tutoring business
* Shares up 0.9 pct, in line with market
(Adds details, shares)
LONDON, Jan 18 (Reuters) - British publisher Pearson (PSON.L) said it had taken a controlling stake in India's online education firm TutorVista, increasing its foothold in the fast-growing Indian education market and boosting its global online tutoring business.
Pearson is paying $127 million to increase its stake to 76 percent from the 17.2 percent it has held since June 2009, it said in a statement on Tuesday.
TutorVista provides online tutoring to about 10,000 students a month, teaches English at 60 centres across southern India and supplies digital content to about 3,300 classrooms. It also provides curriculum design, teacher training and technology to schools serving about 5,000 students in the country.
Pearson said it expected the acquisition to enhance its adjusted earnings per share in 2012, the first full year after the deal.
Its shares were 0.9 percent higher at 1,010 pence by 0820 GMT, in line with the FSTE 100 index of leading British companies .FTSE.
(Reporting by Paul Sandle, Editing by Rosalba O'Brien)
((paul.sandle@reuters.com; +44 20 7542-6843; Reuters Messaging: paul.sandle.reuters.com@reuters.net)) Keywords: PEARSON INDIA/
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