BEIJING, March 1, 2018 /PRNewswire/ -- Tarena International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a leading provider of professional education services in China, today announced that it has entered into a definitive agreement to acquire Wuhan Haoxiaozi Robot Technology Co., Ltd, ("Rtec"), which is one of the largest K-12 robotics programming education service providers in Hunan and Hubei provinces in China.
Founded in 2009, Rtec is a pioneer teaching institution that provides robotics education services in China to children aged from 3 to 12 years old. It now serves nearly 4,000 students through over 20 directly operating learning centers.
"Tarena's investment in Rtec is an important step to consolidate the market in kid STEAM education in China. We have achieved strong organic growth in our own business through network expansion and new course offerings," said Shaoyun Han, Founder, CEO and Chairman of Tarena. "We believe the acquisition will further complement and extend our service and help us gain more insight into childhood development and learning as well as offline sales and marketing. We are confident to further strengthen our leading position in kid education through sharing proprietary system, teaching content and management experience between Tarena and Rtec. "
The total consideration for this acquisition is not disclosed for reasons of commercial sensitivity.
About Tarena International, Inc.
Tarena International, Inc. (NASDAQ: TEDU) is a leading provider of professional education services in China. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers professional education courses in twelve IT subjects and three non-IT subjects. Tarena also offers four kid education programs. Its professional education courses provide students with practical skills to prepare them for jobs in industries with significant growth potential and strong hiring demand. Since its inception in 2002, Tarena has trained over 475,000 students, cooperated with more than 772 universities and colleges and placed students with approximately 124,000 corporate employers in a variety of industries. For further information, please visit http://ir.tedu.cn.
About Wuhan Haoxiaozi Robot Technology Co., Ltd
Founded in 2009, Rtec is a pioneer institution that provides robotics education services in China to children aged from 3 to 12 years old. It now serves nearly 4,000 students through 26 directly operating learning centers and over 30 franchised learning centers. Rtec is one of the largest robotics education service providers in Hunan and Hubei province in China. For further information, please visit http://www.rtec.cc/
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Tarena may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including any business outlook and statements about Tarena's beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Tarena's goals and strategies; its future business development, financial condition and results of operations; its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified instructors and teaching assistants; its ability to continually tailor its curriculum to market demand and enhance its courses to adequately and promptly respond to developments in the professional job market; its ability to maintain or enhance its brand recognition, its ability to maintain high job placement rate for its students, and its ability to maintain cooperative relationships with financing service providers for student loans. Further information regarding these and other risks, uncertainties or factors is included in Tarena's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tarena does not undertake any obligation to update such information, except as required under applicable law.
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