BOSTON, Feb. 7, 2019 /PRNewswire/ -- NYSE-listed,
Beijing-headquartered leading
educational service company TAL Education Group (TAL) has acquired
Boston-Tel Aviv mobile-first and AI-powered online
test preparation and admissions services startup company Ready4,
Inc. (formerly known as LTG Exam Prep Platform, Inc.). The
acquisition of Ready4 adds on-demand and live online courses,
cutting-edge technology products and adaptive assessment science to
TAL's portfolio of products.
"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."
Since launching in 2013, Ready4 has developed a cutting-edge
consumer mobile prep platform that delivers high-quality,
AI-powered live and on demand test prep courses for GMAT, GRE, SAT,
ACT, PSAT, and MCAT as well as admissions consulting services for
MBA, Grad, Law, and Undergrad degrees. The company has helped more
than 2 million students in over 150 countries improve their
standardized college admissions test scores. Ready4 has also
partnered with over 60 leading colleges and universities such as
Harvard University, Massachusetts Institute of Technology, and the
University of North Carolina to reach
qualified candidates via its platform.
"From our inception, we have been committed to helping students
– no matter where they live or their income level – achieve their
educational dream," said Elad
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. We're also grateful
to our supportive investors including Prof. Edward Roberts, Square Peg Capital, Living
Mountain Capital, and others who have supported us through our
journey. 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."
Ready4 was founded in 2013 by tech entrepreneur and former
Israeli professional basketball player, Elad Shoushan. A graduate of MIT's Sloan School of Management, Shoushan led the
company through in a number of industry recognitions, including
selection by EdTech20 as one of the world's 20 most innovative
educational technology companies in 2016, and earning the
prestigious 2016 ASU GSV award. Ready4 has been supported by
leading investors including Square Peg Capital and TAL Education
Group (NYSE: TAL).
For more information about Ready4's suite of applications, as
well as its offerings for higher education institutions, visit
https://www.ready4.com/.
About TAL Education Group
Tomorrow Advancing Life
(NYSE: TAL) is a leading education and technology enterprise in
China, which holds close the core
development goals of being technology-driven, talent-centered, and
quality-focused. Since its establishment, TAL is committed to
integrating the Internet and technology into education to deliver a
better study experience for children.
About Ready4, Inc.
Ready4 is the only mobile-first
company that delivers high-quality AI-powered live online test prep
courses and admissions services to prospective students in their
journey to their top school. Ready4's iOS and Android apps, all
ranked at the top-5 app in ranking and reviews in their respective
categories, have already helped more than 2M students in ~150+ countries around the globe
to improve their scores and admissions chances.
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SOURCE Ready4