TAL Education Group Acquires Ready4
BOSTON, Feb. 7, 2019 /PRNewswire/ -- NYSE-listed, Beijing-headquartered leading educational service company TAL Education Group (TAL) has acquired Boston-Tel Aviv mobile-first and AI-powered online test preparation and admissions services startup company Ready4, Inc. (formerly known as LTG Exam Prep Platform, Inc.). The acquisition of Ready4 adds on-demand and live online courses, cutting-edge technology products and adaptive assessment science to TAL's portfolio of products.
"We've been fans of Ready4 since we first invested in the company back in 2014, which was our first investment in a company outside China," said David Zhao, General Manager of TAL's test prep division, KMF. "Ready4's expertise in mobile technology and adaptive learning science is unmatched, and allows us to provide greater access to KMF's leading online test prep courses outside of our traditional market. With the completion of the deal today, we are excited to fully bring Ready4 into TAL family."
Since launching in 2013, Ready4 has developed a cutting-edge consumer mobile prep platform that delivers high-quality, AI-powered live and on demand test prep courses for GMAT, GRE, SAT, ACT, PSAT, and MCAT as well as admissions consulting services for MBA, Grad, Law, and Undergrad degrees. The company has helped more than 2 million students in over 150 countries improve their standardized college admissions test scores. Ready4 has also partnered with over 60 leading colleges and universities such as Harvard University, Massachusetts Institute of Technology, and the University of North Carolina to reach qualified candidates via its platform.
"From our inception, we have been committed to helping students - no matter where they live or their income level - achieve their educational dream," said Elad Shoushan, CEO of Ready4. "It starts with access to high quality live online and on demand test prep courses, as well as to admissions consultants from top universities. We're also grateful to our supportive investors including Prof. Edward Roberts, Square Peg Capital, Living Mountain Capital, and others who have supported us through our journey. TAL Education Group is well-positioned to provide our offering at a larger scale. As we join TAL and KMF team, we're excited and ready for our next stage of growth."
Ready4 was founded in 2013 by tech entrepreneur and former Israeli professional basketball player, Elad Shoushan. A graduate of MIT's Sloan School of Management, Shoushan led the company through in a number of industry recognitions, including selection by EdTech20 as one of the world's 20 most innovative educational technology companies in 2016, and earning the prestigious 2016 ASU GSV award. Ready4 has been supported by leading investors including Square Peg Capital and TAL Education Group (NYSE: TAL).
For more information about Ready4's suite of applications, as well as its offerings for higher education institutions, visit https://www.ready4.com/.
About TAL Education Group
Tomorrow Advancing Life (NYSE: TAL) is a leading education and technology enterprise in China, which holds close the core development goals of being technology-driven, talent-centered, and quality-focused. Since its establishment, TAL is committed to integrating the Internet and technology into education to deliver a better study experience for children.
About Ready4, Inc.
Ready4 is the only mobile-first company that delivers high-quality AI-powered live online test prep courses and admissions services to prospective students in their journey to their top school. Ready4's iOS and Android apps, all ranked at the top-5 app in ranking and reviews in their respective categories, have already helped more than 2M students in ~150+ countries around the globe to improve their scores and admissions chances.
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SOURCE Ready4
