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Chinese internet company to acquire British education enterprise

Xinhua, September 17, 2015 Adjust font size:

NetDragon Websoft Inc. on Thursday said it would purchase Promethean World Plc., a British educational enterprise, through one of its indirect non-wholly owned subsidiaries, at a price of 40 British pence (62 U.S. cents) per share.

In July, NetDragon has made an estimated 848 million pound offer through its subsidiary, Digital Train Ltd., for the entire issued and to-be issued ordinary share capital of Promethean.

According to a statement published by NetDragon, as of 3 p.m. GMT Wednesday, Digital Train had already acquired 95.88 percent of Promethean's issued share capital, and the whole purchase is expected to be complete in October or November.

NetDragon is a leading Chinese online games and mobile applications development company.

Promethean is a leading education solution provider, listed on the London Stock Exchange. Endi