BEIJING, April 23, 2021 / PRNewswire / – China Online Education Group (“51Talk” or the “Company”) (NYSE: COE), a leading online education platform in China with core expertise in teaching English, has announced today that it has entered into a definitive agreement to acquire a 100% stake in Beijing Xiangyue Education Technology Co., Ltd. (“Kaola Reading”), a leading developer and supplier of Chinese reading skills assessment systems and reading training systems in China, by issuing Class A common shares of the Company by private placement. The Transaction is expected to be finalized during the first half of 2021 in accordance with customary closing conditions.
Founded in 2016, Kaola Reading has developed a graduated Chinese reading standard, the Enjoy Reading (ER) framework, in collaboration with the Machine Learning Laboratory at Peking University. Kaola Reading uses artificial intelligence and machine learning technologies to assess and assess reading skills and make smart learning course recommendations based on each student’s unique reading skills and interest. In May 2017, Kaola Reading has launched its award-winning Chinese online learning app.
“We see clear strategic value in this acquisition,” said Mr. Jack Jiajia Huang, founder, CEO of 51Talk. “By leveraging Kaola Reading’s expertise in reading assessment, we plan to develop an English assessment and grading system that allows us to deliver more targeted courses to our students, to offer enhanced learning experiences and outcomes; and adding graded reading content to further diversify our curriculum. wallet. In Additionally, this acquisition expands our course offering to include Chinese language lessons, providing a holistic learning experience for our students. We look forward to working closely with the Kaola Reading team and developing these new initiatives for our next phase of growth. “
About China Online Education Group
China Online Education Group (NYSE: COE) is a leading online education platform in China, with basic expertise in teaching English. The company’s mission is to make quality education accessible and affordable. The Company’s online and mobile education platforms allow students to China to take interactive live English lessons with foreign teachers abroad, on demand. The company connects its students with a large pool of highly qualified foreign teachers that it has assembled using a shared economy approach, and uses student and teacher feedback and data analysis to deliver an experience. personalized learning for its students.
For more information, please visit http://ir.51talk.com.
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China Online Education Group
+86 (10) 8342-6262
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+86 (10) 5730-6200
SOURCE Online Education Group in China