Beijing, China, July 8, 2016 -- ATA Inc. ("ATA" or the "Company", Nasdaq: ATAI), a leading provider of advanced testing technologies and testing-related services in China, today announced that the Company has entered into an agreement to make a strategic investment in Beijing GlobalWisdom Information Technology Co., Ltd. (“Langlib”), an online English language education company in China.
With this strategic investment, ATA continues to explore growth opportunities in China’s online education market and expects that the Company will benefit from Langlib’s expertise in content creation and adaptive learning technology focusing on online English language education, as well as increasing exposure to educational institutions and individual learners that can take advantage of ATA’s testing and related services in the future.
Mr. Kevin Ma, ATA’s Chairman and CEO, stated, “We are pleased to begin this partnership with Langlib, a company that develops its own online adaptive learning technology and content for its English language education portal and is committed to providing students with quality teachers and services to assist them in achieving their goals. Langlib’s technology research and development team has impressive backgrounds; many of them have experience at well-known Chinese technology companies, and are passionate about finding ways to improve the technology and design behind effective English learning products. We believe Langlib’s mission to provide equal access to quality English language learning technology is in line with ATA’s own mission to provide similar opportunities for students and jobseekers to prove their knowledge and skillsets via objective assessment exams. We look forward to working with Langlib and benefitting from their expertise in the English language study market as we expand into the multifaceted online education space in China.”
Background on Langlib
Founded in 2007, Langlib officially launched its English study platform (www.langlib.com) in 2009, and has independently developed its online adaptive learning system with the goal of becoming the most “user-intelligent” online English learning platform. Langlib’s products cover English tests such as TOEFL, IELTS, GRE, SAT, CET-4 (College English Test Band 4 in China), etc., and offer a one-stop service consisting of courses, practice exams, evaluations, Q&A and community. These exam-oriented products are currently available to the public and positive feedback has been well received.
About ATA Inc.
ATA is a leading provider of advanced testing technologies in China. The Company offers comprehensive services for the creation and delivery of assessments based on its proprietary testing technologies and test delivery platform. ATA’s testing technologies are used for professional licensure and certification tests in various industries, including information technology services, banking, teaching, asset management, insurance, and accounting. As of March 31, 2016, ATA's test center network comprised 3,035 authorized test centers located throughout China. The Company believes that it has the largest test center network of any commercial testing service provider in China.
ATA has delivered more than 76.3 million billable tests since ATA started operations in 1999. For more information, please visit ATA’s website at www.atai.net.cn.
Cautionary Note Regarding Forward-looking Statements
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terms such as "believe," "could," "expect," "future," "look forward to," "plan," "should," "will," and similar terms. Examples of forward-looking statements in this press release include statements about the expected use of the proceeds invested by ATA in Langlib; the anticipated benefits to ATA’s expansion efforts into the online English language study market, data resources and related services; and the ability of ATA and Langlib to cooperate effectively, and to introduce offerings and build partnerships in China. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections by both ATA and Langlib. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. The Company cannot assure you that its expectations and assumptions will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information on our company, please contact the following individuals:
At the Company
Shelly Jiang, Interim CFO
+86 10 6518 1122 x5500
The Equity Group Inc.
Carolyne Y. Sohn, Senior Associate
+86 10 6587 6435
Adam Prior, Senior Vice President