KNeoMedia Limited announced its entry into India's large private school education market through an exclusive licensing agreement with Indian-based education technology investment entity, Augustya, which will deploy the KneoWorld SaaS platform into schools there. KNM has been working with Augustya for six months to advance this licensing agreement and it allows the Company to gain a secure foothold in the large and well-funded Indian private education market for minimal cost outlay. Augustya will have 10-year exclusive agreement (subject to KPIs to be agreed) to market, sell and distribute the KneoWorld SaaS technology with KNM receiving AUD 40.00 for each seat licence sold. The first sale will be consummated in the next few weeks following extensive testing and reviewing by a respected international school in Mumbai. Over 80 teachers and education administrators there were engaged in the initial review program which has bypassed the pilot stage.