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Visionary Education Technology Holdings Group Inc (NASDAQ: VEDU) subsidiary entered an agreement to acquire a 100% equity interest in Griggs International Academy China Co. Ltd. (Griggs China).
Griggs China is a private consulting and investment holding company in Hong Kong offering U.S. K-12 diploma programs and services of Griggs International Academy the USA at four locations in China.
The company also recently entered into a definitive capital increase and share expansion agreement with Griggs China.
"Through the investment in Griggs, we expect to extend our global footprint and expand our business to reach potential markets in the Asia Pacific, such as India and Indonesia," said CEO David Xu.
This transaction aligns with VEDU's growth strategies of teaming with other educational businesses and expanding course and degree offerings.
Price Action: VEDU shares are trading higher by 17.07% at $1.44 on the last check Thursday.
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