NetDragon's Promethean Acquires Explain Everything to Drive Transformational Collaboration and Learning Experiences
NetDragon Websoft Holdings Limited announced the acquisition of Explain Everything by its subsidiary, Promethean, enhancing its educational technology offerings. This strategic move aims to integrate Explain Everything's digital whiteboard capabilities into Promethean's portfolio, fostering innovation in teaching and learning solutions. The acquisition is expected to generate new software subscription revenues while providing enhanced collaborative tools for educators and students worldwide.
- Acquisition expands Promethean's product portfolio with a revenue-generating digital whiteboard tool.
- Strategic integration expected to enhance collaboration and educational experiences for users.
- Potential to scale future software subscription revenue streams.
- None.
HONG KONG, Dec. 2, 2022 /PRNewswire/ -- NetDragon Websoft Holdings Limited ("NetDragon" or "the Company", Hong Kong Stock Code: 777), a global leader in building internet communities, is pleased to announce that its subsidiary, Promethean, a leading global education technology company, has acquired substantially all of the assets of Explain Everything, a leading digital whiteboard platform for creating engaging lessons, activities, and interactive presentations. Through the strategic acquisition, Promethean is expected to add to its product portfolio a revenue-generating application tool that addresses one of the most common use cases of its customers. This acquisition will also support the development of new and better solutions that would address teaching, learning, and collaboration needs, and ultimately enable the scaling of future software subscription revenue stream.
The Explain Everything app, available on all mobile platforms, provides users with an infinite canvas to draw, animate, create videos, and collaborate. With the new acquisition, Promethean will merge the existing Explain Everything team and platform into its standing operations and portfolio. The integration of Explain Everything's digital whiteboard platform and operating team will allow both companies to build upon their respective visions in edtech and beyond, helping customers to get the most from cutting-edge technologies through new product offerings, alliances, and partnerships.
"As technology evolves, Promethean continues to look to the future to provide the best solutions that would transform learning experiences. Joining the Explain Everything team with ours is part of our commitment to continuously innovate and work towards providing a superior interactive experience from anywhere," said Vin Riera, chief executive officer at Promethean. "This exciting opportunity and new relationship for both companies will allow us to expand our already robust offerings to better serve customers' needs."
"We're thrilled to now be part of the Promethean team," said Reshan Richards, co-founder and chief executive officer at Explain Everything. "Explain Everything's mission to impact teaching and learning in all settings is in perfect alignment with Promethean's more than 25 years of education technology leadership. Together, we will continue to provide the most effective interactive learning tools for students and teachers around the world."
About NetDragon Websoft Holdings Limited
NetDragon Websoft Holdings Limited (HKSE: 0777) is a global leader in building internet communities with a long track record of developing and scaling multiple internet and mobile platforms that impact hundreds of millions of users, including previous establishments of China's first online gaming portal, 17173.com, and China's most influential smartphone app store platform, 91 Wireless.
Established in 1999, NetDragon is one of the most reputable and well-known online game developers in China with a history of successful game titles including Eudemons Online, Heroes Evolved, Conquer Online and Under Oath. In recent years, NetDragon has also started to scale its online education business on the back of management's vision to create the largest global online learning community, and to bring best-in-class blended learning solutions to every school around the world.
About Promethean
Promethean is a leading education technology company working to transform the way the world learns and collaborates. From our founding in Blackburn, England, almost 25 years ago to our global operations in 22 countries today, we've continued to explore, innovate, and inspire —designing learning and collaboration tools that are built for breakthroughs. Our award-winning interactive display, ActivPanel, and lesson delivery software, ActivInspire and ClassFlow, were designed to engage students, connect colleagues, and bring out the brilliance in everyone. With headquarters in Seattle, Washington, and offices worldwide, Promethean is a subsidiary of the NetDragon Websoft Holdings Limited (HKSE: 0777).
About Explain Everything
Explain Everything is a leading whiteboard platform designed to help teachers and students create and complete engaging lessons and assignments, video capture, and collaborate. With over 20 million downloads of its native applications worldwide, the software continues to be one of the top educational tools on both Apple and Google platforms and was recognized as one of the Apple App Store's Best of 2020 for Leading the Classroom.
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SOURCE NetDragon Websoft Holdings Limited
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