Eleutian Technology, an online English teaching service provider, sold part of its business to Nagase USA for an undisclosed amount.
As part of the transaction, Nagase USA is hiring 40 Wyoming teachers and 10 teacher trainers and managers from Eleutian and Kent Holiday, founder and former CEO of Eleutian, has taken the role of a senior executive at Nagase USA. Craig Holiday, Eleutian’s current CEO, will become Eleutian’s president.
Nagase USA is a subsidiary of Japanese Nagase Brothers, Inc., a publicly traded company that provides education services worldwide. The company plans to expand its operations in the US according to the press release.
Nagase was Eleutian’s largest customer in Japan prior to the sale. The transaction will provide capital for the next phase of Eleutian’s business, expanding its operations in China, Korea, the Middle East and other international markets according to trib.com.
Eleutian was founded in 2006 and became a market leader in the English language learning space, offering live sessions with state-certified U.S. teachers to clients across the globe. Since its launch, Eleutian has conducted over 2 million English lessons.
The company raised a $10 million Venture Round from Cheyenne Capital in 2010. Last year Eleutian announced a partnership with Oxford University Press, expanding its services to Central Asia, the Middle East and North Africa.
- Wyoming education services firm sold to Japanese company | trib.com
- Eleutian sale will shift CEO, 50 employees | Wyoming Business Report
- Eleutian Partners with Oxford University Press | Press Release