RM Education, the leading global education provider, is pleased to announce that it has signed a six year licensing agreement with MeritTrac Services Pvt Ltd, for the delivery of e-marking services to awarding bodies and universities in India.
The contract will run from April 2011 to April 2017, and will be delivered by RM Assessment, the assessment division of RM Education.
MeritTrac is India's largest testing and skills assessment company, providing examination process and assessment solutions to educational institutions, the government sector and leading corporate entities.
E-marking services in India
Under the agreement, RM will work with MeritTrac in implementing e-marking solutions in India, using RM Assessment's scoris® assessor platform, so that MeritTrac can run the entire e-marking services directly in India for Indian awarding bodies. As a leader in the assessment space in India, MeritTrac has established sales and delivery channels in India for the education sector, including leading schools' examination boards and universities. Due to the scale of the assessments taken each year within Indian universities, estimated to be over 150 million answer scripts annually, with some large entities processing over 1 million exams per year, this is a material opportunity for both RM Education and MeritTrac.
David Brooks, Managing Director of RM Assessment, said:
"India represents an integral part of our global business strategy and is one of our most important markets for growth. However local knowledge is key, and working in partnership to deliver this licensing agreement with a well-established and well-respected organisation such as MeritTrac helps to give us an excellent entry point into the Indian e-assessment market. Equally, MeritTrac's experience of delivering large scale high stakes tests across India, coupled with RM's world-leading e-marking technology, demonstrates our joint commitment to investing in the future of Indian education."
Madan Padaki, CEO and Co-Founder of MeritTrac, said:
"We are very pleased to be working with RM as a technology partner in bringing on-screen marking services to the Indian market. Through this partnership, our institutions in India can now leverage the superior technology and robust marking processes that RM has deployed for leading institutions worldwide. With the burgeoning growth of the education sector in India, and the need to assess learning outcomes accurately, this service will go a long way in improving the quality of the evaluation process in bringing scalability, efficiency and tighter control.
"We believe that the proven delivery and processing capabilities of MeritTrac, coupled with the robustness of the technology platform from RM, will provide a solution that is geared towards the Indian marketplace."
India's education market
With this agreement, RM Education gains further access to India's growing education market, helping the company demonstrate further progress in growing an international business, to add to the Group's existing customer base in Australia, USA and Europe. It also creates an important opportunity to explore further ways to expand working with MeritTrac.