Retech Holding Co., an E-Learning platform from China, has acquired fifty-one percent of the issued share capital of XJS Coaching School, a company that has over twenty years of coaching experience.
XJS, which has a presence in six locations in Victoria, provides coaching in languages (English and Mandarin) and subjects such as mathematics, writing, etc. Additionally, they also offer training for scholarship test preparations.
XJS Coaching owned by Aushen Group Pty Ltd ACN has over a thousand students being coached in their different centers.
Retech Holding is a fully owned subsidiary of Retech Technology Co., Ltd, incorporated in Hong Kong. As their vision statement goes, they aspire to be the “world’s leading and foremost e–learning solutions providers“. This acquisition will be a step forward in that direction.
The synergies for the acquisition can be viewed as – (1)Australia has the largest demographic of teachers who are qualified to teach English, (2) Australia is only two hours ahead of China in terms of the time zone (3) the E-Learning platform of Retech will enable these teachers to go online and teach English to people of China. Additionally, Mandarin Chinese can be taught by qualified teachers in China to more than one million people in Australia who are of Chinese descent.
While announcing the acquisition, Mr. Sun Haoliang, the Exec Director of Aushen said,
“We are delighted to be working with Retech to develop and extend our business into the new digital age. XJS has built a solid brand as the largest Chinese language teaching group in Melbourne. Working with Retech, we will take our business into the new era of digital education”.
The proceedings of the acquisition were completed on 26 June 2019.