NEW YORK, Dec. 21, 2020 /PRNewswire/ -- The idea to transition a major portion of the education system online has been flirted with for years, as more and more online curriculums were slowly introduced in universities across the world. But, due to the pandemic and the social restriction that followed, online education, both from traditional and alternative learning institutions, has become a crucial part of the education system. For example, online classes in Brown University have allowed students studying abroad and faculty conducting research outside of Providence to continue teaching at the University. "With today's normalization of online education, Brown can reach more audiences, including a larger pool of pre-college students and graduate students, as the University had begun to explore before the pandemic," according to The Brown Daily Herald. Meten EdtechX Education Group Ltd. METX, Arco Platform Limited ARCE, Laureate Education, Inc. LAUR, New Oriental Education & Technology Group Inc. EDU, American Public Education, Inc. APEI.
Besides the pandemic and its implications, the other major factors driving the growth of academic e-learning market size in the long-term are increasing higher education e-Learning enrollments and the launch of new online degrees. Online learning is also structured to save time and opens several doors to immersive learning. Instead of being passive, learners can choose what they need to learn quickly and easily, from wherever they are. And, according to data provided by Valuates Reports, the academic e-learning market size was valued at USD 103.8 Billion in 2019 and is expected to grow CAGR 11.23% by 2025.
Meten EdtechX Education Group Ltd. METX just announced breaking news regarding a "strong recovery of its junior ELT business. Gross billings and students enrollments of its junior ELT business in October and November 2020 both exceeded the corresponding period in 2019.
"The Company's junior ELT business continued to maintain its strong performance after the COVID-19 pandemic in China. From January to November 2020, the cumulative gross billings of the junior ELT business have recovered to approximately 76% of the same period in 2019. Moreover, the gross billings of junior ELT business in October and November increased by approximately 49% and 17%, respectively, compared to the same period last year, showing a positive step to profitability.
"The renewal and referral income from existing students accounted for approximately 60% of the gross billings, demonstrating the value of the junior ELT in terms of teaching quality, brand reputation and relatively low-cost customer acquisition channels. At the same time, the student enrollment has also recovered month by month with the gradual reopening of offline learning centers. The cumulative new student enrollment from January to November 2020 has recovered to approximately 71% of the same period last year, and the student enrollment in October and November 2020 has increased by approximately 46% and 24%, respectively, compared to the same period of last year. The overall expansion of student enrollment is in line with the Company's expectation.
"In addition to the continuous development of its existing business, the Company also plans to expand market coverage of its junior ELT business so as to explore the potentials or opportunities in the field of K-12 education service. Currently, the Company has launched Chinese and mathematics projects for the first time at its independent junior learning centers in Foshan, Guangdong Province, and Nanchang, Jiangxi Province, and these projects are progressing smoothly."
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Arco Platform Limited ARCE announced back in September that it has acquired 100% of Studos Software Ltda., or Studos, a technology provider for personalized student assessment, data-based academic performance diagnostics and AI-powered adaptive learning and test prep. "This acquisition is part of our strategy to acquire technology companies that increase the value of our learning systems to partner schools and parents, improve student's academic performance and enable teachers to thrive. We believe Studos has the potential to further enhance our solutions by delivering proprietary technology and content at scale. Additionally, Studos's highly talented founders, Leonardo Prates and Wilson Fernandes, and its 23 people team will play a leading role in pioneering innovative technology at Arco," said Ari de Sá Neto, CEO and founder of Arco.
Laureate Education, Inc. LAUR announced in September that it has closed on the previously announced sale of INTI Education Holdings Sdn. Bhd. and its subsidiaries (INTI Education Group), a group of higher education institutions in Malaysia, to HOPE Education Group (Hong Kong) Company Limited. HOPE Education Group (Hong Kong) Company Limited is an established operator of higher education institutions, including universities and vocational colleges. The total transaction value was US$140 million. Laureate's net proceeds from the transaction are estimated to be approximately US$120 million after a US$14 million payment to a minority equity shareholder and other fees. President and Chief Executive Officer of Laureate, Eilif Serck-Hanssen, said: "We wish INTI Education Group well, as the institutions continue to provide their students with quality learning experiences and outcomes under the stewardship of HOPE Education Group."
New Oriental Education & Technology Group Inc. EDU provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence. New Oriental offers a wide range of educational programs, services and products consisting primarily of language training and test preparation, primary and secondary school education, online education, content development and distribution, overseas study consulting services, pre-school education and study tour. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.
American Public Education, Inc. APEI, parent company of online learning provider American Public University System, announced back in October that it has entered into a definitive agreement to acquire Rasmussen University ("Rasmussen"), a nursing- and health sciences-focused institution serving over 18,000 students at its 24 campuses across six states and online. Rasmussen offers both traditional and competency-based programs online and through its 24 on-ground campuses in six states. With over 8,200 nursing students, Rasmussen is one of the largest providers of pre-licensure nursing programs in the United States.
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