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PekinFebruary 5, 2019 / PRNewswire / – RYB Education, Inc. ("RYB" or "The Company") (NYSE: RYB), a leading provider of early childhood education services Chinaannounced today the signing of a definitive agreement on the acquisition of approximately 70% of a major Singaporeprivate group of infant education for about 125 million RMB in liquid.
Ms. Yanlai Shi, co-founder, director and CEO of the company, said, "We are excited to add this portfolio of child-focused badets to our platform. This acquisition expands our brands and service offerings to a wider audience and other jurisdictions, as well as the International English Language and Bilingualism Program and the High Education Management Team. quality we acquire, will generate a great synergy with our Chinabased on operations and improve our competitive advantage in our core business China early childhood education market. "
"This announcement, along with our previous acquisitions and alliances, exemplify our strategic and measured diversification across many business, product and regional segments, expanding our educational platform while remaining focused on the core business. providing educational services to children under the age of 6. In addition, this acquisition demonstrates our commitment to constantly improve the quality of our educational offerings and we are convinced that this initiative will bring long-term value to our shareholders " Ms. Shi concluded.
In addition to the aforementioned purchase, the company plans to change the name of RYB Education to GEH Education to better reflect its growing platform of multiple brands, products and services across multiple markets and geographies. The board of directors of the company approved the name change. This name change will be submitted to the general meeting of the company for subsequent approval by the shareholders. The proposed new company name aims to strengthen the RYB core brand for Playfree and Play-and-Learn services, as well as other brands of the platform, while providing a mechanism for continued expansion brand, products and services.
About RYB Education, Inc.
Based on the core values of "Care" and "Responsibility", "Inspire" and "Innovate", RYB Education, Inc. is one of the leading providers of early childhood education services in China. Since opening its first gaming and learning center in 1998, the company has grown and developed with the mission to provide high quality, individualized and age-appropriate care and education, to nurture and inspire each child to improve his life. During its more than two decades of operation, the company has built "RYB" into a well-recognized education brand and has contributed to the implementation of many new educational practices in the small-scale education sector. childhood in China. RYB's comprehensive early childhood education solutions cater to the needs of children under 6 through structured clbades taught in playgrounds and play and learning centers, as well as home-based educational products and services.
For more information, please visit http://ir.rybbaby.com
Declaration of the Safe Harbor
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by such terms as "will," " "Expect", "expect", "future". "intends", "plans", "believes", "estimates", "confident" and similar statements. Statements that are not historical facts, including statements regarding the beliefs and expectations of the Company, 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 the following: brand recognition and the reputation of the Company's marketplace; registration of students in the educational facilities of the society; the growth strategies of the company; future development, results of operations and financial condition; trends and competition From China early childhood education market; changes in its revenues and certain costs or expenses; the expected growth of the Chinese market of preschool education; Chinese government policies related to the sector of society and general economic conditions China. Further information regarding these and other risks can be found in the Company's filings with the SEC. All information in this press release and in the attachments is from the date of this press release and the Company badumes no obligation to update these forward-looking statements, except as required by applicable law.
For investor and media inquiries, please contact:
In China:
RYB Education, Inc.
Investor Relations
Tel: + 86-10-8767-5752
E-mail: [email protected]
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 5730-6200
E-mail: [email protected]
In United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: + 1-212-481-2050
E-mail: [email protected]
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SOURCE RYB Education, Inc.
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