BEIJING, Feb. 20, 2020 /PRNewswire/ -- RYB Education,
Inc. ("RYB" or the "Company") (NYSE: RYB), a leading early
childhood education service provider in China, today announced
it has entered into a strategic cooperation agreement with
NetDragon Websoft Holdings Limited ("NetDragon")
(HKSE: 0777).
NetDragon has been an active promoter of education development
in the internet industry. It develops innovative EdTech products
and systems through active collaboration with renowned universities
and enterprises. RYB will leverage NetDragon's technology and
expertise to further integrate both parties' online and offline
resources. For example, the two companies will seek to jointly
develop early childhood educational products, as well as explore
the field of children's English language learning using an
online-merge-offline model. With its advantageous technological
know-how in gamification, NetDragon will also support RYB in
upgrading the content and courses offered at its play-and-learn
centers. This strategic collaboration marks RYB's continuous
efforts in its digital and internet strategy to support its
long-term growth.
"We are excited to have established this strategic
relationship with NetDragon. By leveraging their pool of
established online learning platforms and digital learning
technologies, such as VR and AR, RYB is well prepared to develop
competitive early childhood education products suitable for the
mobile education market," said Ms. Yanlai Shi, Co-Founder, Director
and Chief Executive Officer of RYB. "There will be strong synergy
between our extensive student and parent network and NetDragon's
digital curriculum, tools and solutions. We look forward to working
closely with the NetDragon team over the coming years. Through
our joint efforts I'm confident that we will bring about more
educational innovations and make early childhood education services
more flexible and accessible," concluded Ms. Shi.
Dr. Simon
Leung, Vice Chairman of NetDragon and CEO of
NetDragon Huayu Education, said: "We are pleased to form this
strategic alliance with RYB Education. We believe that this
cooperation will position us better in the preschool education
market. We will fully utilize our various advantages in technology
and content to carry out profound cooperation with RYB. We firmly
believe that NetDragon's powerful tools and solutions for digital
courses, combined with RYB's parent, teacher and student network,
will unleash great synergetic potentials. We also hope that the
cooperation with RYB can help promote innovation and equity in the
education space."
About RYB Education, Inc.
Founded on the core values of "Care" and
"Responsibility," "Inspire" and
"Innovate," RYB Education, Inc. is a leading early
childhood education service provider in China. Since opening its first play-and-learn
center in 1998, the Company has grown and flourished with the
mission to provide high-quality, individualized and age-appropriate
care and education to nurture and inspire each child for his or her
betterment in life. During its two decades of operating history,
the Company has built "RYB" into a well-recognized education brand
and helped bring about many new educational practices in
China's early childhood education
industry. RYB's comprehensive early childhood education solutions
meet the needs of children from infancy to 6 years old through
structured courses at kindergartens and play-and-learn centers, as
well as at-home educational products and services.
About NetDragon Websoft Holdings Limited
NetDragon Websoft Holdings Limited (HKSE: 0777) is a global
leader in building internet communities with a long track record of
developing and scaling multiple internet and mobile platforms that
impact hundreds of millions of users. These include China's number one online gaming portal,
17173.com, and China's most
influential smartphone app store platform, 91 Wireless, which was
sold to Baidu for US$1.9 billion in
2013 as the largest Internet M&A transaction in China.
Established in 1999, NetDragon is one of the most reputable and
well-known online game developers in China with a history of successful game titles
including Eudemons Online, Heroes Evolved and Conquer Online. In
recent years, NetDragon has also started to scale its online
education business on the back of management's vision to create the
largest global online learning community, and to bring the
"classroom of the future" to every school around the world.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
Statements that are not historical facts, including statements
about the Company's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's brand recognition and market reputation; student
enrolment in the Company's teaching facilities; the Company's
growth strategies; its future business development, results of
operations and financial condition; trends and competition
in China's early childhood education market; changes in
its revenues and certain cost or expense items; the expected growth
of the Chinese early childhood education market; Chinese
governmental policies relating to the Company's industry and
general economic conditions in China. Further information
regarding these and other risks is included in the Company's
filings with the SEC. All information provided in this press
release and in the attachments is as of the date of this press
release, and the Company undertakes no obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please
contact:
In China:
RYB Education, Inc.
Investor Relations
Tel: 86-10-8767-5752
E-mail: ir@rybbaby.com
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 6508-0677
E-mail: ryb@tpg-ir.com
In the United
States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com
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SOURCE RYB Education, Inc.