Beijing's TAL Education Group acquires Israeli-founded Ready4
The company, which has an office in Tel Aviv, offers smartphone applications that have helped over two million students in approximately 150 countries to date.
By EYTAN HALONStudents take a university entrance examination at a lecture hall in the Andalusian capital of Seville, southern Spain, June 16, 2015. Students in Spain must pass the exam after completing secondary school in order to gain access to university. REUTERS/Marcelo del Pozo(photo credit: MARCELO DEL POZO/REUTERS)
Leading Beijing-based educational service company TAL Education Group has acquired American-Israeli innovative test preparation start-up Ready4, the companies have announced.Established in 2013 by former Israeli professional basketball player and Massachusetts Institute of Technology (MIT) graduate Elad Shoushan, Boston-headquartered Ready4 provides artificial intelligence-powered online test preparation courses and admissions services to prospective college students.The company, which has a research and development office in Tel Aviv, offers smartphone applications that have helped over two million students in approximately 150 countries to date."We've been fans of Ready4 since we first invested in the company back in 2014, which was our first investment in a company outside China," said David Zhao, General Manager of TAL's test prep division, KMF."Ready4's expertise in mobile technology and adaptive learning science is unmatched, and allows us to provide greater access to KMF's leading online test prep courses outside of our traditional market. With the completion of the deal today, we are excited to fully bring Ready4 into TAL family."Ready4 offers preparation courses for a wide range of examinations, including the GMAT, GRE and SAT, in addition to admissions consulting services for undergraduate, graduate, MBA and law degrees. It has partnered with leading educational institutions, such as Harvard University, MIT and the University of North Carolina."From our inception, we have been committed to helping students – no matter where they live or their income level – achieve their educational dream," said Shoushan, CEO of Ready4."It starts with access to high quality live online and on demand test prep courses, as well as to admissions consultants from top universities. TAL Education Group is well-positioned to provide our offering at a larger scale. As we join TAL and KMF team, we're excited and ready for our next stage of growth."
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