Gravitas Education completed the merger with the education business of NetDragon in a $750m deal.

Gravitas Education, a publicly listed company for preschool education in China, completed the merger with the education business of NetDragon, a global specialist in building internet communities with a long track record of developing and scaling multiple internet and mobile platforms, in a $750m deal. "We are not just in the business of building products. We are in the business of creating value. The completion of this transaction marks a pivotal moment for NetDragon, as we unlock significant value for our shareholders by spinning off our overseas education business into an independent, publicly listed entity in the US. This spinoff will set us on a path to redefine the educational landscape. Our strategic direction is clear: We will evolve from a hardware provider to a leader in Classroom as a Service. We aim to leverage our existing footprint of over 1m classrooms globally to create an agnostic platform that hosts a multitude of content providers, deliver a set of SaaS offerings for a frictionless teaching experience, and last but not least, establish Mynd.ai as the unified provider for K-12 market. The future of education is here, and it is intelligent, seamless, and boundless," Simon Leung, NetDragon Vice Chairman and Mynd.ai Chairman.