Educomp Solutions, India's largest education company has decided to setup a joint venture with UK-based publishing house Pearson.

Under the arrangement, Pearson will acquire a 50% stake for $17.5 million in Educomp's existing vocational training business.

The JV will provide training for essential professional skills, and will include English Employers in India with English fluency as decisive measure in recruitment process.

Apart from English, the JV will target other vital skills area for sector such as financial services and retail.

Both the companies are likely to invest an additional $20 million in the next five years in the new business.

The scrip of the company today closed at Rs 3427, up 11% compared to previous close of Rs 3081. The counter has made 52-week high and low of Rs 4020 and Rs 1331 respectively.