EDTECHX HOLDINGS (NASDAQ:EDTX) AND METEN INTERNATIONAL ANNOUNCE SUCCESSFUL MERGER CLOSING AND CAPITA

London, March 31 (Bernama-GLOBE NEWSWIRE) -- EdtechX Holdings (NASDAQ:EDTX) and Meten International Announce Successful Merger Closing and Capital Raise EdtechX Holdings Acquisition Corp. (“EdtechX”) (Nasdaq: EDTX), the world’s first special purpose acquisition company focused on investing in the education services and education technology industry, and Meten International Education Group (“Meten”), a leading English language training (“ELT”) service provider in China, announced today that they have successfully completed their previously announced merger transaction. The combined entity will operate as Meten EdtechX Education Group Ltd. (“Meten EdtechX”) and will continue to focus on providing English language and future skills training for Chinese students and professionals. In connection with the closing of the merger transaction, EdtechX and Meten completed the private placement of US$ 36 million from institutional investors including Azimut (AZM.MI), a leading Italian asset manager with assets under management of more than US$ 60 billion, and Xiamen ITG Holding Group, a Fortune Global 500 Company engaged in range of industries across China including education. These investments add to the previous investments into Meten by China International Capital Corporation (CICC, 3908.HK) and private equity funds affiliated with Tsinghua University. The transaction is expected to accelerate the expansion of Meten’s ELT offering and its fast-growing digital platform, ‘Likeshuo’, as well as fund potential synergistic and accretive acquisitions in China and internationally.