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ChinaEdu To Own 100% Of "101 Online School"
101 Online School, CEDU, ChinaEdu, education
Posted by: Megan Ko on Mar 11, 2008 | 19:03
Editorial Summary
Beijing-based online degree and educational service provider ChinaEdu Corporation (Nasdaq: CEDU) has agreed to purchase the remaining 20 percent stake in online tutoring and test prep program "101 Online School" for approximately US$712,856. With the additional expenditure, 101 Online School will become a wholly-owned ChinaEdu program. ChinaEdu is expected to complete the acquisition deal by April.
ChinaEdu generated approximately US$1.85 million in revenue from online tutoring programs, compared to about US$1.72 million in the year ago-period, in the first three quarters of 2007. The company purchased an initial 80 percent equity interest in 101 Online School in January, 2005. Established in 1996, 101 Online School targets primary and secondary school students.
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COMMENTS
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