REG-VK Company VK to acquire 100% in Uchi.ru, an educational platform for school students

VKAnnouncement

20/02/2023 07:15

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   VK Company (VKCO)
   VK to acquire 100% in Uchi.ru, an educational platform for school students

   20-Feb-2023 / 10:00 MSK
   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EquityStory RS.
   The issuer is solely responsible for the content of this announcement.

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   VK to acquire 100% in Uchi.ru, an educational platform for school students

                                        

   February 20, 2023. VK has  fully consolidated Uchi.ru, the largest  online
   platform for school students,  after buying out the  remaining 75% of  the
   company. Deal value stood at RUB 8.7 billion. Through this acquisition, VK
   will strengthen its foothold in  the segment of extracurricular  education
   for schoolchildren.

   Uchi.ru is Russia’s largest  online platform used  by school students  for
   taking school subjects and  extracurricular activities, learning to  code,
   preparing for exams and  taking part in academic  Olympiads. More than  12
   million students, 6  million parents  and 800,000 teachers  are using  the
   platform. Apart  from  the  educational platform,  the  Uchi.ru  group  of
   companies is also  developing its online  tutor courses Uchi.Doma,  online
   educational portal Uchi.Otvety, a network of offline Uchi.ru-branded clubs
   and workshops for programming,  Math and English, as  well as the  YaKlass
   educational website.

   “Education is one of our key  business lines. VK’s platforms offer  people
   of all ages the opportunity to acquire new skills, relevant knowledge  and
   career, with particular focus on schoolchildren and college students.  The
   consolidation of Uchi.ru opens additional opportunities in development  of
   VK’s EdTech business segment. Uchi.ru’s founders and managers have created
   one of the largest educational  companies with a high-quality product  and
   significant market share. Today, Uchi.ru plays an important role in school
   students’ extracurricular  activities, while  also being  a platform  that
   parents and teachers trust.  We have been  actively engaging in  Uchi.ru’s
   activities over  the  past  two  years, including  around  the  launch  of
   multiple Olympiads as well as parent-teacher conferences,” said  Alexander
   Ayvazov,  VK’s   Senior   Vice-President  of   Investment   and   Business
   Development. “We are happy to welcome  Uchi.ru’s team and partners to  VK.
   We will  continue investing  in  the development  of school  education  in
   Russia by driving the process.”

   VK develops its education business in all segments from school  activities
   to post-graduate studies. The  company’s education business unit  includes
   Skillbox, GeekBrains, SkillFactory, Uchi.ru, Umschool, Tetrika, Sferum and
   other services. The company organizes various educational initiatives  for
   young students including  projects like  Day of IT  Knowledge and  Digital
   Lesson for  school students,  VK Education  in partnership  with  Russia’s
   leading universities, and the Prostor creativity platform. VK is an active
   supporter of competitions and holds its own annual IT championship  within
   its All Cups platform.

   About VK

   VK is one of the largest technology companies in Russia. Its products help
   millions of people with  their day-to-day needs online.  More than 90%  of
   the Russian internet audience use VK services, which enable people to keep
   in touch, play video games, master new skills, listen to music, watch  and
   create video content, buy and offer goods and services and fulfill a  wide
   range of  other needs.  The company  provides a  number of  solutions  for
   digitizing  business  processes,  from  online  promotion  and  predictive
   analytics to  corporate social  networks,  cloud services  and  enterprise
   automation.

   For further information please contact

   VK PR team

    1 pr@vk.team

    

   VK IR team

    2 ir@vk.team

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   ISIN:          US5603172082
   Category Code: ACQ
   TIDM:          VKCO
   LEI Code:      2138009IXUP41SPL5B50
   Sequence No.:  224176
   News ID:       1563157


    
   End of Announcement EquityStory RS News Service

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References

   Visible links
   1. mailto:pr@vk.team
   2. mailto:ir@vk.team


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