What MPS does

MPS Ltd is an India-headquartered, publicly listed B2B learning and content solutions platform (ticker: MPS) founded in 1976 and based in Noida. The company operates three core verticals: Education Solutions (educational content and learning platforms for institutions), Corporate Learning (enterprise workforce training, currently being reshaped toward higher-margin offerings), and Research Solutions (research content and academic publishing services for institutional customers). Revenue is generated through subscription-based, recurring arrangements with institutional clients across these three verticals, with a sales-led B2B go-to-market.

In January 2026, MPS acquired Unbound Medicine for $16.5 million, extending the platform into subscription-based medical and healthcare information services and reinforcing the strategic shift toward a platform-led, recurring-revenue model. Q3 FY2026 reported Rs 182.5 crore in revenue (down 2.1% YoY) and Rs 35.5 crore in net profit (down 12.8% YoY); management characterized the quarter as a 'holding quarter' during ongoing transition, with Education Solutions up 11.3% and Research Solutions (excluding AJE) up more than 16%, offset by a deliberate -24% contraction in Corporate Learning. The company has a long M&A track record, including Mag+ (2016), THINKsubscription (2017), and Tata Interactive Systems (2018), and historically delivers 40% ROCE with a meaningful dividend yield, supported by public-market investors including Mukul Agrawal (4.5% stake, ~Rs 114 crore).

Name

MPS

Legal name

MPS Ltd

Website

https://adi-mps.com

Company type

Public

Founded year

1976

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

MPS Ltd is an India-based, publicly listed B2B learning platform operating across Education, Corporate Learning, and Research segments, delivering subscription-based content solutions to institutional customers.

Ownership category

akta.pro rank

Product category

Learning Platforms and Educational Content Solutions

NAICS

Publishing Industries (513), Software Publishers (513210), Software Publishers (5132)

SIC

Books: Publishing Or Publishing & Printing (2731), Services-Educational Services (8200), Miscellaneous Publishing (2741)

akta.pro primary industry

Online Learning Content & Course Publishing Platforms (BPAMAJAL)

akta.pro secondary industries

Medical & Clinical Reference (Physicians, Nursing, Allied Health) (EDAGAGAA), Corporate/L&D Course Licensing from Creators (B2B Upskilling) (MPACALAH), Digital Library & Electronic Resources Operations (e-Resources, Repositories, Licensing) (EDAEAGAF), Digital Learning & Course Subscriptions (CRAFAIAD)

Keywords

• Learning platforms
• Educational content solutions
• Corporate learning platforms
• Research publishing solutions
• Subscription content services

Headquarters

HQ city

Noida

HQ country

India

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Education Solutions: Provides educational content and learning solutions, delivering 11.3% growth in Q3 FY2026. Represents one of three core business segments.
2. Corporate Learning: Deliberately declining (down 24%) as the company shifts toward higher-margin offerings. Part of strategic transition to subscription-based recurring revenue model.
3. Research Solutions: Delivered over 16% growth excluding the AJE segment. Provides research-related content solutions to institutional customers.
4. Unbound Medicine Platform: Acquired on January 30, 2026 for $16.5 million, positioning toward subscription-based recurring revenue and platform-led business model.

Go-to-market motion1 record

Core offering

MPS Ltd sells digital learning and content platforms to institutional customers through three business segments: Education Solutions (educational content and learning platforms for academic institutions), Corporate Learning (enterprise training and workforce development platforms, currently being shifted toward higher-margin offerings), and Research Solutions (research and academic publishing platforms). It also owns Unbound Medicine, a subscription-based medical and healthcare information platform acquired in January 2026 for $16.5 million.

Product overview

MPS operates as a B2B learning platform company with three core business segments: Education Solutions, Corporate Learning, and Research Solutions. The company is undergoing a business transition toward subscription-based recurring revenue and a platform-led business model. In January 2026, MPS acquired Unbound Medicine to strengthen its subscription offerings and accelerate its shift to higher-margin, platform-based services.

Differentiator

Problem solved

Functional benefit

Products and services

• Education Solutions B2B learning platform segment delivering educational content and learning solutions to educational institutions and students, which grew 11.3% in Q3 FY2026.
• Corporate Learning Enterprise training segment deliberately transitioning toward higher-margin, subscription-based corporate learning offerings; reported down 24% in Q3 FY2026 during the strategic shift.
• Research Solutions Research and academic publishing platform segment delivering over 16% growth in Q3 FY2026 excluding the AJE segment, providing research content solutions to institutional customers.
• Unbound Medicine Subscription-based medical and healthcare information platform acquired on January 30, 2026 for $16.5 million, serving institutional customers with clinical reference content and supporting MPS's platform-led recurring-revenue strategy.

Quantifiable outcome

• Education Solutions grew 11.3% in Q3 FY2026
• +4 more outcomes

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Unbound MedicinecoreStrategic or Co-development Partner · 30 January 2026MPS acquired Unbound Medicine on January 30, 2026 for $16.5 million. This acquisition is a strategic move to position the company toward subscription-based recurring revenue and a platform-led business model. Management expects this to drive the real inflection point in FY2027.

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Cengage Group: Higher education and workforce learning content and technology company with a strong shift toward digital subscriptions. Comparable to MPS's higher education and corporate learning segments.
• Wolters Kluwer: Provider of professional information, software solutions, and services in healthcare, tax, accounting, and compliance. Closely comparable to Unbound Medicine's medical reference and clinical decision-support positioning.
• Pearson: Global education and learning company spanning higher education, English language learning, and enterprise/corporate L&D. Comparable to MPS's Education Solutions and Corporate Learning segments and its shift toward subscription-based platforms.
• Informa: Operates Taylor & Francis academic publishing, B2B events, and digital learning services for professionals. Comparable to MPS as a B2B learning and academic content platform with strong institutional distribution.
• Springer Nature: Major academic and scientific publisher producing journals, books, and reference works for institutional and professional audiences. Highly comparable to MPS's Research Solutions segment and the Unbound Medicine medical reference business.
• SAGE Publishing: Independent academic and professional publisher of journals, books, and reference content for educational and research institutions. Comparable to MPS's Research Solutions segment and institutional publishing model.
• RELX (Elsevier): Parent of Elsevier, the leading scientific, technical, and medical information platform, and a dominant player in institutional research and clinical decision-support. Closely matches MPS's research and medical reference positioning, particularly post-Unbound Medicine.
• McGraw Hill: Educational content publisher with a growing digital learning platform serving K-12, higher education, and professional markets. Comparable to MPS's Education Solutions segment and platform-based delivery model.
• EBSCO Information Services: Provider of research databases, e-books, and clinical decision-support tools (including DynaMed) for academic and medical institutions. Closely comparable to MPS's Research Solutions and Unbound Medicine businesses.
• Wiley: Global publisher of scientific, technical, medical, and scholarly content, and operator of an online learning platform serving researchers, professionals, and students. Closely comparable to MPS across academic publishing, research solutions, and corporate/professional learning.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/mpsltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MPS