RYB Education Teams Up With NetDragon
RYB said the strategic cooperation will support its long-term growth strategy.
RYB Education Inc. (NYSE: RYB), which provides early education in China, announced on Thursday that it reached a strategic cooperation agreement with NetDragon Websoft Holdings Ltd. (HKEX: 0777).
NetDragon develops innovative EdTech products and systems through active collaboration with renowned universities and enterprises. Under the agreement, RYB will leverage NetDragon's technology and expertise to further integrate both parties' online and offline resources, while NetDragon will support RYB in upgrading the courses it offers at its "play-and-learn" centers.
RYB said the strategic cooperation marks RYB's continuous efforts in its digital and internet strategy to support its long-term growth.
Yanlai Shi, the co-founder, director, and chief executive officer of RYB, said in the announcement, "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."
"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," Simon Leung, the vice-chairman of NetDragon and chief executive officer of NetDragon Huayu Education, added.
Shares of RYB were trading at $5.22 midday in New York on Thursday, down 3 cents.