Ascendent Capital-backed Kidedu Holdings terminated the $230m merger with Tarena International.

Ascendent Capital-backed Kidedu Holdings terminated the $230m merger with Tarena International, a provider of professional education and K-12 education services in China. "We are committed to our growth strategy of continuous quality upgrade of our excellent educational products and services and relentless enhancement in our operational efficiencies. In the second quarter of 2021, our total net revenues and gross profit margin increased significantly and net loss decreased substantially compared to the same period of last year. The Company expects its total net revenues for the third quarter of 2021 to exceed its financial results for the second quarter. We believe that the Company can maintain a sustainable growth in the adult professional education and childhood & adolescent quality education businesses," Ying Sun, Tarena CEO.