Vasta announces investment in Educbank
03 Junho 2022 - 7:43AM
Vasta Platform Limited (NASDAQ: VSTA) announces the execution of a
minority investment agreement by its wholly-owned subsidiary, Somos
Sistemas de Ensino S.A. (“Somos”), which establishes the terms and
conditions for the issuance and the payment of new shares on
Educbank Gestão de Pagamentos Educacionais S.A. (“Educbank”).
According to the agreement, the investment will be made in
installments over a two-year period, upon subscription of new
Educbank shares, according to the growth of students served by
Educbank and other conditions. The closing of the transaction is
subject to certain conditions precedent, including the approval by
the Brazilian antitrust authority.
Educbank is the first financial ecosystem
dedicated to K-12 schools, intended to expand access to quality
education in Brazil, through services’ management and financial
support to educational institutions by providing payment guaranty
to school tuitions. This investment will enable Vasta to capture
great value potential in the following years, by tapping the K-12
tuitions payment means, which total payment volume (TPV) is
estimated at R$70 billion per year. Educbank’s services complement
Vasta’s digital services platform, which provides access to data,
management tools and now working capital management, releasing time
for school partners to focus on delivering education.
ABOUT VASTA
Vasta is a leading, high-growth education
company in Brazil powered by technology, providing end-to-end
educational and digital solutions that cater to all needs of
private schools operating in the K-12 educational segment,
ultimately benefiting all of Vasta’s stakeholders, including
students, parents, educators, administrators and private school
owners. Vasta’s mission is to help private K-12 schools to be
better and more profitable, supporting their digital
transformation. Vasta believes it is uniquely positioned to help
schools in Brazil undergo the process of digital transformation and
bring their education skill-set to the 21st century. Vasta promotes
the unified use of technology in K-12 education with enhanced data
and actionable insight for educators, increased collaboration among
support staff and improvements in production, efficiency and
quality. For more information, please visit
ir.vastaplatform.com.
CONTACT
Investor Relationsri@somoseducacao.com.br
Vasta Platform (NASDAQ:VSTA)
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