NetDragon Websoft To Buy Edmodo

(RTTNews) - NetDragon Websoft Holdings Limited (NDWTF.PK) said that it agreed to acquire 100% stake in Edmodo, a global learning community, for a consideration of US$137.5 million. The acquisition consideration will be paid in a combination of cash and shares of NetDragon's education subsidiary valued at a pre-acquisition valuation of US$1.8 billion.

Edmodo is a global education network offering a communication and collaboration platform to K-12 schools targeting teachers, students, administrators and parents. The Edmodo network enables teachers to share resources, distribute quizzes and assignments, and connect with students, colleagues, and parents in safe, meaningful ways.