VK consolidates educational platform Uchi.ru for 8.7 bln rbl

MOSCOW, Feb 20 (PRIME) -- Russian Internet company VK has acquired the remaining 75% of online platform for school children Uchi.ru for 8.7 billion rubles to consolidate 100% of the asset, VK said on Monday in a statement.

“Education is one of our key business lines. VK’s platforms offer people of all ages the opportunity to acquire new skills, relevant knowledge and career, with particular focus on schoolchildren and college students. The consolidation of Uchi.ru opens additional opportunities in development of VK’s EdTech business segment,” VK’s Senior Vice-President of Investment and Business Development Alexander Ayvazov said, as quoted by the company.

The deal will help VK strengthen its foothold in the segment of extracurricular education for schoolchildren, the company added.

Uchi.ru is used by more than 12 million students, 6 million parents, and 800,000 teachers.

(74.7588 rubles – U.S. $1)

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