Core Projects & Technologies Ltd, a global education management systems provider, has acquired a unit of Nasdaq-listed education company The Princeton Review, for $20 million.

The company stated in an official release that the acquisition would be funded by debt, being raised by its US subsidiary Core Education & Consulting Solutions Inc. The deal includes the acquisition of products and solutions, along with management team of TPR.

The company believes that this buyout of the K-12 division of The Princeton Review (TPR) will add about USD 24 million to the global revenues of the company.

Under the terms of deal, Core can use the TPR brand for two years to market the acquired products in the United States, the United Kingdom and India.

Shares of Core Projects and Technologies were settled the day at Rs 47 on BSE while the scrip of Princeton Review was presently trading at $5.09 on Nasdaq.