China’s Skillful Craftsman Technology Limited, an education technology company providing interactive online learning services, has acquired 100% equity interest in Shenzhen Jisen Information Tech Limited, an integrated financial education and service provider in China, for 2.9 million newly issued ordinary shares of the company.
According to a press statement, the transaction has been unanimously approved by the company’s board of directors and is expected to close by the end of this month. However, it added that the issuance of ordinary shares will be subject to the satisfaction of certain conditions following the closing.
Jisen Information develops trading simulators, invests in cloud education curriculum systems, and customized data analysis using the big data of the global financial market. The company partners with colleges and universities and train the students, helping them familiarize with the financial markets of the United States, Hong Kong, and mainland China, through its self-developed quantitative financial training programs.
Currently, the company has established long-term cooperation with five Chinese colleges and universities, including Anhui Normal University, Anhui University of Engineering, and Anhui Business College. Jisen Information also provides SaaS-backed trick-level market data analysis services for many Chinese companies listed overseas.
Commenting on the development, Xiaofeng Gao, Chairman & CEO of Skillful Craftsman, said in a statement,
“We are very pleased to announce this acquisition and we believe this move will help the company to vigorously tap into the necessary resources to advance university cooperation and promote the national pilot project of ‘Education Certificate + Several Vocational Skill Level Certificates,’ which we are actively participating in. Jisen Information’s cloud education technology architecture system can be a great complement to our existing technology platform. We expect this acquisition to strengthen our connections with other Chinese listed companies, especially education companies, and enable us to jointly explore new opportunities in the field of vocational education.”
Skillful Craftsman, which began its operations in Wuxi, China in 2013, provides interactive online vocational training and virtual simulation experimental training courses. It offers courses on various subjects such as mechanics, electronics, auto repair, and construction, as well as software development with comprehensive cloud services for private companies, academic institutions, and government agencies.