Vasta announces closing of investment in Educbank
19 Julho 2022 - 8:30AM
Vasta Platform Limited (NASDAQ: VSTA) announces the completion, by
its wholly-owned subsidiary, Somos Sistemas de Ensino S.A.
(“Somos”), of the minority investment in Educbank Gestão de
Pagamentos Educacionais S.A. (“Educbank”). Vasta investment will
total R$158 million, for a 47.4% stake in Educbank, to be paid in:
(i) cash installments totaling R$88 million, according to the
growth of students served by Educbank and other conditions, and
(ii) upon capitalization of credits arising from the sale of
intangible assets by Somos (R$ 70 million). Vasta will have the
right to appoint two members (out of six) to the board of directors
of Educbank.
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) surpasses
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 Relationsir@vastaplatform.com
Vasta Platform (NASDAQ:VSTA)
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