Australia-listed IDP Education Limited (ASX:IEL) has agreed to acquire 100% of the shares in Hotcourses Limited, a digital marketing and online student recruitment firm
Hotcourses owns and operates a portfolio of education search websites that help future students make the right study choices and connect with universities and colleges around the world.
The company provides students with unique online tools to search for appropriate courses and plan their studies.
The company’s websites receive more than 66 million annual visits, and two million registered users access its database of 500,000 courses from 5,000-plus institutions in 48 countries – one of the largest global databases of educational courses in the world.
Chief Executive Officer of IDP Education, Andrew Barkla, said the acquisition will accelerate IDP Education’s vision of building the world’s leading platform and connected community, to guide students along their journey to achieve learning and career aspirations.
He added that the acquisition provides an immediate digital pathway and scale to broaden IDP Education’s global portfolio and meet future demand.
“This is a unique opportunity to bring together one of the world’s leading digital student engagement and marketing businesses with the world’s largest student placement business via IDP’s network of over 600 counsellors in 30 countries. We have been through a rigorous due diligence process to ensure business, operational and cultural fit between both entities and are thrilled with the acquisition,” said Mr Barkla.
Hotcourses will continue to operate as an independent entity, but will work in collaboration with IDP Education to identify and harness natural synergies which will accelerate the successful strategies of both businesses.
A board comprising senior executives from both entities and chaired by Mr Barkla will now oversee Hotcourses, which will continue to be led by Chief Executive Officer, Simon Emmett. He will also join IDP Education’s Global Leadership Team, which reports to Mr Barkla.
The existing Chairman and founder of Hotcourses, Michael Elms, will remain as a Director and senior advisor to the company.
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