GoStudent, a Vienna, Austria-based EdTech company, acquired Studienkreis, a Germany-based tutoring company operating in the DACH region.
The amount of the deal was not disclosed. The seller in the transaction was IK Partners.
With the acquisition, GoStudent will accelerate its strategy to combine the best of both the online and offline world and to give people access to quality education through technology. Over the past 12 months, the company made a number of strategic acquisitions including UK-based Seneca Learning, Tus Media Group from Spain and Fox Education from Austria. These acquisitions allowed GoStudent to extend into AI-based learning content, improve and increase access to tutors and the addressable market and offer communication solutions for schools and families. With the integration of Studienkreis, the company can now address families with a preference for centre-based learning or group classes.
Led by CEO Lorenz Haase, Studienkreis is a private education provider that offers tutoring and school-accompanying lessons both online and on-site at more than 1,000 locations. Since 1974, there company has served more than 1.5 million students of all grades and school types to fully develop their personal potential in all common subjects. Studienkreis will continue operating independently under its current leadership team while the two companies aim to identify synergies over time.
Founded in Vienna in 2016 by Felix Ohswald (CEO) and Gregor Müller (COO), GoStudent provides paid, one-to-one, video-based tuition in more than 30 subjects to primary, secondary and college-aged students, using a membership model. Various investors, including Prosus and SoftBank Vision Fund 2, have invested more than €590m in the platform. GoStudent employs 1,600 people and works with 23,000 self-employed tutors.
FinSMEs
05/12/2022