Monday, 2 October 2023

Business News

QuantaSing Expands Global Presence with Acquisition of Kelly’s Education – TipRanks Financial Blog

Core & Main, Inc. Class A (CNM) Q1 Earnings Cheat Sheet – TipRanks Financial Blog

BEIJING, Sept. 18, 2023 (GLOBE NEWSWIRE) — QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading online learning service provider in China, today announced its acquisition of Kelly’s Education, an online language education platform headquartered in Hong Kong. This transaction marks QuantaSing’s entry into the global online education market and the language learning sector. Following completion of the transaction, Kelly’s Education will become a wholly-owned subsidiary of the Company.

QuantaSing, known for its innovative online platforms like QiNiu for financial literacy, JiangZhen for lifelong learning, and QianChi for senior citizens’ interests, serves an extensive range of learning needs, empowering individuals to consistently enhance their self-value. Kelly’s Education provides personalized online language education for children aged 3-15, primarily in Hong Kong. The acquisition allows QuantaSing to tap into the global online learning and new language education sectors.

On its path to entering the global market, QuantaSing is excited to introduce Hong Kong Online Education (“HKOE”), a brand initially developed by Kelly’s Education, which offers high-quality online English education for children, with a focus on delivering value. HKOE adheres firmly to the belief that top-tier education should be within reach for a broader audience of children, not just a privileged few. By implementing a reasonable pricing strategy, HKOE is determined to make premium English education more affordable, presenting a range of course options that accommodate various needs and budgets.

Mr. Peng Li, Chairman and Chief Executive Officer of QuantaSing, said, “We are excited to integrate Kelly’s Education and the new brand HKOE into our ecosystem. We congratulate Ken and his team for developing such a strong offering and look forward to our partnership. Their strong business model and seasoned team lays a solid foundation for our global market entry. We plan to broaden our course offerings, including Chinese language learning, and diversify our revenue streams by appealing to a wider age group. We remain committed to fulfilling the ongoing demand from individuals seeking to improve their quality of life and overall well-being through our diverse course offerings.”

Mr. Ken Chau, newly appointed Senior Vice President of International Business at QuantaSing and founder of Kelly’s Education, has the mandate to…

Click Here to Read the Full Original Article at TipRanks Financial Blog…