Date of Release: May 19, 2016
Beijing, China, May 19, 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’s wholly-owned subsidiary ATA Online (Beijing) Education Technology. Co., Ltd. (“ATA Online”) entered into an agreement to make strategic investment in Medicine (Beijing) Education Technology Ltd. (“Medicine”), a China-based online education technology company focused on training and exam preparation in the specialty niche sectors of medicine, pharmacy and healthcare.
Highlights of the Strategic Investment
Medicine’s core businesses focus on pre-test training for medical, pharmacist and healthcare qualification examinations. The company is dedicated to increasing innovation and effectiveness within the medical education and training market in China. Please refer to the following website for more information: http://yikaotop.com/.
With this investment, ATA Online will expand into online education for the healthcare industry. ATA Online expects to work closely with Medicine’s management team on further developing its platform and business relationships and to benefit from its expertise in online education for the healthcare industry, as well as increased access to information on and exposure to working professionals and individual learners that will come to recognize ATA as the leading authority in testing and related services.
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 December 31, 2015, ATA's test center network comprised 3,250 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 75.4 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 anticipated benefits to ATA Online’s expansion efforts into the online education related market, data resources and related services; the ability of ATA Online and Medicine to cooperate effectively, and the expected promotion of ATA’s brand name in the area of testing and related services. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections by both ATA Online and Medicine. 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
ATA Inc.
Shelly Jiang, Interim CFO
+86 10 6518 1122 x5500
jiangyan@atai.net.cn
Investor Relations
The Equity Group Inc.
Carolyne Y. Sohn, Senior Associate
415-568-2255
+86 10 6587 6435
csohn@equityny.com
Adam Prior, Senior Vice President
212-836-9606
aprior@equityny.com