It looks that Abril Educacao’s IPO this July was rather successful as it provided the company with $240 million USD to be invested in Brazil’s growing $30 billion USD distance-learning market according to Reuters.
We saw the first expansion at the beginning of September when Abril Educacao bought a 5.9% stake in Seattle based language learning startup Livemocha as EDUKWEST reported on Sep 5.
On Saturday, Abril Educacao announced that they acquired Maxiprint Grafika e Editora for $22.9 million. The company is a content provider for both childhood and adult educational content.
With this latest addition to its offerings, Abril Educacao now has a reach of a total of 85.000 students in 343 schools that use the Maxi system for distance-education.
The efforts to provide sustainable solutions in distance-education are supported by the Brazilian government as the country needs to improve its primary and technical education in order to prepare people for the new challenges coming along with the current economic growth the country sees.
Through this acquisition Seattle-based Livemocha might also get access to a whole new package of content, developed by Maxiprint as well as the Maxi network.
Source: Reuters
