EdtechX Holdings (NASDAQ:EDTX) and Meten International Announce Successful Merger Closing and Capital Raise
Summary
The transaction is expected to accelerate the expansion of Meten’s ELT offering and its fast-growing digital platform, ‘Likeshuo’, as well as fund potential synergistic and accretive acquisitions in China and internationally. We look forward to working with Benjamin and Charles to deliver our growth strategy, taking full advantage of the extensive industry experience of our new board directors and the additional funding raised in connection with the transaction." Meten benefits from a highly efficient business model, which leverages the synergies between its nationwide network of 149 learning centres and sophisticated digital platform, , to deliver profitable growth. AI-driven centralised teaching and management systems record and analyse learning processes in real time and personalise course content, facilitating continuous development of the course offering and strict quality control. Meten is well positioned to leverage China’s rapid growth in demand for education and training services, driven by the country’s continuous economic development and increasing urbanization.
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