• BrightCHAMPS, an online learning platform, announced that it has acquired Schola, a Singapore-based English as a second or foreign language (ESL) solution provider, for USD 15 million in a mix of cash and equity. 

• The acquisition is expected to strengthen BrightCHAMPS' suite of K-12 solutions and expand its market presence. It also expects to benefit from synergies driven by Schola's sustainable growth, profitability, and low cash burn. 

• Founded by former Facebook executives in 2019, Schola offers English-language-based courses and communication programs for children aged 4–15. Its proprietary technology takes on a 1-on-1 personalized learning approach via its network of trained qualified teachers. The courses are designed to support English language learners via spoken communication and its communication programs focus on the development of interpersonal skills such as public speaking, leadership presentation, and confidence-building. The platform currently serves 12 countries including Vietnam, Thailand, Korea, Japan, and Malaysia.

<ul><li> Analyst QuickTake: The acquisition builds on the company announcement in June 2022, where BrightCHAMPS stated that it plans to invest USD 100 million in acquiring companies across the US, UK, India, South East Asia, and the Middle East and North Africa (MENA) in FY2023. BrightCHAMPS intends to use acquisitions to grow its presence at an accelerated pace and realize its goal of becoming “the one-stop destination” for the K-12 segment. This complements its earlier acquisition of   Education10x, a financial literacy education platform for children, in February 2022 to provide an all-inclusive solution for skills development for children in the K-12 space.