Netdragon buys Promethean
NetDragon Websoft, a leading developer and operator of online games and mobile internet platforms in China, has acquired London-based interactive learning firm Promethean, in a deal worth around $130m.
Promethean is a specialist in internet learning technology and is one of the few interactive learning companies that has a combined hardware and software solution which includes its flagship interactive whiteboards ActivBoards, and software ClassFlow.
Promethean products are currently used in over 100 countries and in 1.3 million classrooms globally, with two million teachers and over 30 million students using its platform.
Simon Leung, Vice Chairman and Executive Director of NetDragon, commented: “We are truly excited by the technological synergies and market access opportunities that will be created through this acquisition. We believe the combined entity will continue to create value for our shareholders, and more importantly, will have a transformational impact on how people learn around the world.”
Jim Marshall, Chief Executive Officer of Promethean added: “We are extremely excited to join the NetDragon family, where we will be able to continue our mission of empowering students and teachers by encouraging them to engage, interact and collaborate. We started building interactive whiteboards over 15 years ago, and have since brought together teachers and students in over 1.3 million classrooms around the world. We look forward to working with NetDragon in expanding our presence in more schools.”
NetDragon operates a number of game titles in over 10 languages. In recent years, it has become a major player in China’s online and mobile learning space as it works to leverage its mobile Internet technologies and operational know-how to develop a game-changing learning ecosystem.