Tsinghua University-backed Meten Education will merge with EdtechX to pursue market share with Chinese students and young professionals.
Meten Education, a China-based English language coaching provider backed by Tsinghua University, is to merge with special purpose acquisition company EdtechX at an implied $535m equity valuation, Private Equity Wire reported on Friday.
EdtechX will pay Meten stockholders a maximum of $100m in capital including up to $20m from asset management firm Azimut Enterprises – one of EdtechX’s backers, which also include unnamed affiliates of investment bank IBIS Capital.
Meten is an English language-focused education provider with 149…
