OneChange Group Acquires Majority Stake In Tree Of Knowledge Education Online
WangCheng (OneChange) Group, a Singaporean consultancy specializing in educational solutions, has bolstered their presence in China by acquiring a majority stake in TOKEduOn, a provider of English language tuition services, with a bid worth $120m.
- (1888PressRelease) February 09, 2017 - Tree Of Knowledge Education Online, with a network of 212 training facilities in over 30 locations across China, offers online as well as classroom training, in several foreign languages in addition to its core English language curriculum, aimed primarily at teens to young adults. 145 of their centres are self-owned and operated while the rest are franchised.
The cash-only deal, which is expected to be finalized by the end of the month, will enable WangCheng to tap further the growing demand for English language education in Mainland China, and complement the services offered by their existing childcare centres and children's playparks.
According to WangCheng's spokespeople, the acquisition of TOKEduOn is the first part of an ambitious plan which will see them open at least 30 more businesses in rural districts of China within 2 years, making it easier for families in remote areas to have access to their services, as well as create over 500 new job opportunities.
While TOKEduOn will retain a minority ownership by reinvesting $25m, a change of personnel in their senior hierarchy and revamp of their management model is expected in the next several weeks.
###
space
space
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam