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July 22, 2014
09:16 EDTATAIATA Inc. forms joint venture with New Oriental in China
ATA Inc. announced that it has entered into an agreement with New Oriental Education & Technology Group, a provider of private educational services in China, to form a joint venture that will provide online and mobile education and training to working professionals in China. Using New Oriental's existing Koolearn.com online education website and its distribution channels, the joint venture will develop a new online education and training website, as well as mobile apps, catering to the workforce in China with an initial focus on the healthcare, accounting, and finance industries. ATA will invest RMB 13.5M, representing a 45% stake in the new joint venture company, and New Oriental will invest RMB 16.5M for a 55% stake.
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