China's NetDragon completes Promethean acquisition

FUZHOU -- Chinese online game developer NetDragon Websoft Inc announced on Tuesday it had acquired a 100-percent stake in Promethean, a London-listed provider of interactive learning technology.

The $130 million acquisition shows NetDragon's commitment to lifetime learning that brings together technology and big data to improve user experience.

"We are truly excited by the technological synergies and market access opportunities that will be created through this acquisition," said Simon Leung, vice chairman and executive director of NetDragon.

Jim Marshall, chief executive officer of Promethean, said: "We look forward to working with NetDragon in expanding our presence in more schools."

As an international education brand, Promethean offers hardware and software solutions including its flagship interactive whiteboards ActivBoards, and software ClassFlow.

Its products are currently used in over 100 countries and in 1.3 million classrooms globally. With two million teachers and over 30 million students using its platform, Promethean will provide NetDragon with a strong brand as well as global sales and marketing channels.