China Distance Education To Acquire 80% Equity Interest In Xiamen NetinNet

(RTTNews) - China Distance Education Holdings Limited (DL) announced it has signed a definitive agreement to acquire an 80% equity interest in Xiamen NetinNet Software for $32.6 million. Xiamen NetinNet is a learning simulation software provider specializing in practical accounting-related learning solutions for China's college market.

China Distance Education expects the transaction to be dilutive to fiscal 2016 financial results, due to the seasonality of Xiamen NetinNet's business and amortization of intangibles attributable to the acquisition, yet slightly accretive to fiscal 2017 results.