China Liberal Education Holdings, a China-based company that provides smart campus solutions and other educational services, has agreed through its subsidiary China Liberal (Beijing) Education Technology Co to buy Beijing Oriental Wisdom Cultural Development Co, an integrated education service provider focusing on operating jointly-managed academic programmes in the vocational higher education industry in China.

The vendor is Beijing Cloud Class Technology Co and the consideration is seven million ordinary shares in China Liberal Education Holdings.

Beijing Oriental Wisdom Cultural Development Co partners with 10 colleges and universities in Inner Mongolia, Gansu, Shandong, and other provinces to operate school-enterprise jointly-managed programmes covering various majors.

There are about 4,000 students in the programmes of these partner colleges and universities, including about 3,700 undergraduates, 250 junior college students, and about 50 unplanned enrolments.

Ngai Ngai Lam, chairperson and chief executive of China Liberal, said: “We are excited to acquire Oriental Wisdom and it is another milestone for the company to move toward our goal of contributing to the vocational education sector in China. With the recent favourable governmental policies and increasing government budgets for vocational education, we believe this acquisition demonstrates China Liberal’s long-term strategic vision. Additionally, as the demand for digitalisation grows in the education sector, we expect to leverage our advantages in technology, research and development resources, and patented products to further cooperate with universities and colleges and assist them in fulfilling their needs for smart-campus management by enhancing their software system in order to achieve campus planning and inter-department coordination.

“The all-in-one teaching machine, AI-Space, will serve as the core of our hardware system and deliver online and in-person integrated teaching solutions to various educational institutions, allowing them to adapt to various teaching scenarios and improve the overall teaching quality. Looking forward, we will proactively expand our business in vocational education and continue to put efforts into education digitalisation as we aim to benefit more students who are in vocational education and create more value for our shareholders.”

Date Published: 14 June 2022

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