May 9, 2019 |
Brazil's Arco Educação said it has agreed to buy the local curriculum content provider Positivo for BRL1.65bn ($420m) in cash.
Arco will pay half of the money when it closes the deal and pay the other half over five years, starting in 2021. The company will pay 10% of the costs per year in 2021 and 2022 and then pay 15% per year in 2023 and 2024, adjusted by the DI interbank lending rate, Arco said in a press release.
The acquisition will expand Arco's reach to 1.2m students in more than 4,800
Brazilian education company agrees to pay $420m for its rival and more than double its reach to 1.2m students