Vasta acquires Phidelis, a complete platform of academic and financial management for K-12 schools

Rhea-AI Summary

Vasta Platform Limited (NASDAQ: VSTA) announced its acquisition of Phidelis Tecnologia Desenvolvimento de Sistemas Ltda. and MVP Consultoria e Sistemas Ltda. on Jan. 17, 2022, through its subsidiary, Somos Sistemas de Ensino S.A. Phidelis offers comprehensive academic and financial management software solutions for K-12 schools, having serviced over 35 schools and generating R$ 5 million in net revenue in 2021. This strategic acquisition aims to enhance Vasta's digital services and solidify its position in the K-12 education market in Brazil.

Positive

• Acquisition of Phidelis can enhance Vasta's digital solutions offering.
• Phidelis has a strong track record with over 35 schools and R$ 5 million in revenue.
• The skilled team from Phidelis will support Vasta's growth in digital services.

Negative

• None.

SÃO PAULO, Brazil, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Vasta Platform Limited (NASDAQ: VSTA) today announced the acquisition, through its wholly-owned subsidiary Somos Sistemas de Ensino S.A., of Phidelis Tecnologia Desenvolvimento de Sistemas Ltda. and MVP Consultoria e Sistemas Ltda. (“Phidelis”).

Phidelis is a complete platform of academic and financial management for K-12 schools, providing (i) software licensing and development and (ii) messaging, retention, enrollment and default management, for schools and students.

Founded in 2004, Phidelis have provided services to over 35 schools. In 2021, it recorded net revenue of R$ 5 million.

In addition to aggregating a digital solution and bringing in new clients, Phidelis’s talented and skilled team will support the development of Vasta’s digital services platform. With this acquisition, Vasta takes another important step towards offering a complete digital solution to K-12 schools.

About Vasta

Vasta is a leading, high-growth education company in Brazil powered by technology, providing end-to-end educational and digital solutions that cater to all needs of private schools operating in the K-12 educational segment, ultimately benefiting all of Vasta’s stakeholders, including students, parents, educators, administrators and private school owners. Vasta’s mission is to help private K-12 schools to be better and more profitable, supporting their digital transformation. Vasta believes they are uniquely positioned to help schools in Brazil undergo the process of digital transformation and bring their education skill-set to the 21st century. Vasta promotes the unified use of technology in K-12 education with enhanced data and actionable insight for educators, increased collaboration among support staff and improvements in production, efficiency and quality.

Contact

Investor Relations
ri@somoseducacao.com.br

FAQ

What is the significance of Vasta's acquisition of Phidelis?

The acquisition enhances Vasta's digital solutions for K-12 schools, expanding its client base and capabilities.

What services does Phidelis provide?

Phidelis offers academic and financial management software for K-12 schools, including messaging, retention, and enrollment services.

When was the acquisition of Phidelis announced?

The acquisition was announced on January 17, 2022.

How much revenue did Phidelis generate in 2021?

Phidelis recorded a net revenue of R$ 5 million in 2021.

How many schools does Phidelis serve?

Phidelis has provided services to over 35 schools.