METX - Meten EdtechX Education Group Ltd. Announces Potential Strategic Partnership with Renaissance Learning Inc
SHENZHEN, China, Oct. 16, 2020 (GLOBE NEWSWIRE) -- Meten EdtechX Education Group Ltd. (NASDAQ: METX) (“Meten EdtechX” or the “Company”), a leading English language training (“ELT”) service provider in China, today announced a potential strategic partnership with Renaissance Learning Inc (“Renaissance”), a global leader in K-12 English assessment and reading education, and one of the world’s largest English and maths assessment education technology companies.
Headquartered in London, Renaissance also has six offices in the United States and employs more than 1,100 people. It operates in 96 countries globally with more than 18 million users.
In 2019, more than one third of schools in the United States and approximately half of schools in the United Kingdom were using Renaissance’s personalized levelled reading and practice solutions. Its flagship products include “Accelerated Reader”, an English reading assessment product; “Star Reading”, a K-12 English assessment product; “myON”, an online library; “Star Early Literacy”, a product for the young learners; and “Star Math”, a math assessment product.
The cooperation between Renaissance and Meten EdtechX recognizes the companies’ mutual understanding of the international education market, and supports their shared vision of innovation in education, personalized learning, education technology, and lifelong learning. Meten EdtechX Education Group has been in China’s English language training market for 14 years. As of June 30, 2020, Meten EdtechX had more than 1.6 million registered users on its “Likeshuo” platform, and operated 112 self-operated learning centers covering 29 cities in 15 provinces across China. With more than 1,000 marketing and sales employees as of the date of this release, Meten EdtechX is a NASDAQ listed company that has a profound understanding of the English language training market in China, which, we believe, was the main reason Renaissance Education Group chose Meten EdtechX to form this strategic partnership.
Looking ahead, both parties intend to explore a joint venture in China to promote Renaissance’s world-renowned assessment products among different education systems, enabling Chinese families and schools to access high-quality English reading and assessment resources.
For investor and media enquiries, please contact:
Citigate Dewe Rogerson
Sandra Novakov / Christen Thomson / Eleni Menikou / Lucy Eyles
+44 (0)20 7638 9571
meten@citigatedewerogerson.com
About Meten EdtechX
Meten EdtechX is a leading ELT service provider in China, delivering English language and future skills training for Chinese students and professionals. Through a sophisticated digital platform and nationwide network of learning centers, the Company provides its services under three industry-leading brands: Meten (adult and junior ELT services), ABC (primarily junior ELT services) and Likeshuo (online ELT). It offers superior teaching quality and student satisfaction, which are underpinned by cutting edge technology deployed across its business, including AI-driven centralized teaching and management systems that record and analyze learning processes in real time.
The Company is committed to improving the overall English language competence and competitiveness of the Chinese population to keep abreast of the rapid development of globalization. Its experienced management is focused on further developing its digital platform and expanding its network of learning centers to deliver a continually evolving service offerings to a growing number of students across China.