China online education group announces acquisition of kaola reading

Beijing, april 23, 2021 /prnewswire/ -- china online education group ("51talk," or the "company") (nyse: coe), a leading online education platform in china with core expertise in english education, announced today that it has entered into a definitive agreement to acquire 100% equity interest in beijing xiangyue education technology co., ltd. ("kaola reading") a leading developer and provider of chinese reading ability assessment systems and reading training systems in china, by issuing class a ordinary shares of the company through private placement.
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