SHANGHAI, Oct. 26, 2018 /PRNewswire/ -- OneSmart International Education Group Limited (NYSE: ONE) ("OneSmart" or the "Company"), a leading diversified premium K-12 education company in China, today announced that it has jointly acquired a 100% equity stake with a third-party investor in Beijing Tus-Juren Education Technology Co., Ltd. ("Tus-Juren"), a leading K-12 after-school education company in China.
According to the share purchase agreement, OneSmart has agreed to acquire a strategic minority equity stake in Tus-Juren and will actively participate in the management of its daily operations to further expand the business and create greater synergies with OneSmart's existing businesses. As part of this long-term strategic transaction, OneSmart also entered into a strategic partnership with Tus-Education Group, a Tsinghua University-affiliated diversified education group.
Mr. Steve Xi Zhang, Chairman and Chief Executive Officer of OneSmart, commented, "We are very excited to acquire this minority stake in Tus-Juren to jointly realize major strategic business synergies. This investment is another landmark transaction following our recent acquisitions of FasTrack English and Tianjin Huaying Education earlier this year, which will further diversify our business and create long-term values for our shareholders."
"Tus-Juren is a highly respected educational institution renowned for its high-quality teaching, curriculum development capabilities, experienced faculty and management team, and strong brand recognition across China. Combined with our expertise in the meticulous management and operation of learning centers, Tus-Juren will be ideally positioned to further strengthen our small class offerings and expand our market share in China."
"We also look forward to building a long-term partnership with Tus-Education Group to jointly explore opportunities in areas such as AI-based education technology, extracurricular activities, and international collaborations."
Founded in 2008 and headquartered in Shanghai, OneSmart International Education Group Limited is a leading diversified premium K-12 education company in China. Since commencement of our business, our vision is to build the most trusted "Third Classroom" outside of home and school and our mission is to bring out the utmost learning power in each student by cultivating his or her study motivation, capability and perseverance, and enable our students to pursue their life-long success. Our company culture is centered on the core values of customer focus, execution, innovation and teamwork.
The Company has built a comprehensive and diversified premium K-12 education platform that encompasses OneSmart VIP (exam preparation services for students from 3rd to 12th grade), HappyMath (kids mathematics services for children aged 3 to 8 years old), FasTrack English (kids English services for children aged 3 to 8 years old), etc. As of May 31, 2018, OneSmart operated a nationwide network of 302 study centers across 43 cities in China.
For more information on OneSmart, please visit http://www.onesmart.investorroom.com.
About Beijing Tus-Juren Education Technology Co., Ltd.
Founded in 1994, Beijing Tus-Juren Education Technology Co., Ltd. ("Tus-Juren") is a leading K-12 after-school education company in China. Tus-Juren operates over 60 study centers with annual student enrollment exceeding 300,000 in 2017. After more than 20 years of development, Tus-Juren has built a talented team with experienced teachers and a strong pedagogical research platform. Tus-Juren's diversified after-school educational offerings include small classes, STEM, pre-school education, and study camps, etc.
About Tus-Education Group
Affiliated to Tsinghua University TUS Holdings, Tus-Education Group focuses on investment and operations of diversified education businesses including tutoring, cultural broadcasting, pre-kindergarten education, bilingual kindergarten, primary schools, middle schools, high schools, colleges, international schools, as well as overseas study services etc.
For more information, please contact:
Ms. Rebecca Shen
+86-21-5255-9339 ext. 8139
Mr. Christian Arnell
In the US
Ms. Linda Bergkamp
SOURCE OneSmart International Education Group Limited