Arco Platform Limited to Acquire Sistema Positivo de Ensino
Arco Platform Limited - Class A Common Shares (ARCE)
Last arco platform limited - class a common shares earnings: 5/21 04:05 pm
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Source: GlobeNewswire
ARCO to Deliver High Quality Education and Technology to Positivo’s Clients Doubles the Business Size with the Same Business Model, Adds Complementary Regions and Customer Profiles SÃO PAULO, Brazil, May 07, 2019 (GLOBE NEWSWIRE) -- Arco Platform Limited, or Arco (Nasdaq: ARCE), today announced that it has entered into a definitive agreement to acquire Sistema Positivo de Ensino (Positivo), one of the largest K-12 content providers to private schools in Brazil, for R$1,650 million in cash. With the acquisition of Positivo, Arco will expand its scale and more than double its reach to over 4,800 partner schools and 1.2 million students. “This acquisition of Positivo significantly expands our footprint and drives our scale further, strengthening our capacity to invest in high-quality content and technology. As a result, we will be able to enhance the learning experience of over 1 million students,” said Ari de Sá Neto, CEO and founder of Arco. “Positivo has served the K-12 private
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