Netdragon Buys Promethean 【AUTHENTIC】

Promethean had been suffering from falling revenues and losses ($6.9 million loss in the year prior to the deal), providing a, lower-cost entry for NetDragon to acquire a premium brand. 4. Deal Structure and Terms Price: 40 pence in cash per Promethean share.

The offer represented a ~48% premium over the closing price of 27 pence on June 15, 2015. netdragon buys promethean

NetDragon aimed to use Promethean to combine technology, big data, and education, enabling a global "lifetime learning" model. Promethean had been suffering from falling revenues and

Following the acquisition, Promethean continued to operate under NetDragon, with significant changes occurring years later: The offer represented a ~48% premium over the

In 2023, NetDragon announced a plan to spin off Promethean to merge with Gravitas Education Holdings, aiming to operate as a standalone company (later known as MYND.AI) listed on the NYSE to focus on AI in education.

A British educational technology company known for its interactive whiteboards (ActivBoards) and software (ClassFlow). It boasted strong market share in the U.S. and UK, with over 2 million teachers and 30 million students using its platform. 3. Rationale for Acquisition