- Janison Education Group (JAN) has signed an agreement to acquire UNSW Global’s Educational Assessments division
- Over the past three years, half of Australia’s schools have bought Educational Assessments’ products and its flagship ICAS product is used in 15 countries
- Additionally, Janison will acquire the business’ item bank of approximately 20,000 test questions
- As consideration, Janison will only pay a nominal fee but will assume approximately $1.6 million in employee liability
- Janison’s share price rose 9.1 per cent today and by market close shares were worth 30 cents each
Janison Education Group (JAN) has signed an agreement to acquire UNSW Global’s Educational Assessments division.
UNSW Global is a subsidiary of the University of New South Wales and is comprised of its Education and Educational Assessments businesses.
Educational Assessment’s flagship product is the ICAS academic assessments which are used in 15 countries including Australia. Over the past three years, half of Australia’s schools have bought Educational Assessments’ products.
Under the agreement, Janison will also take on the business’ item bank of approximately 20,000 test questions, existing brands, 2020 commitments, key staff members and know-how.
Janison CEO David Caspari said its a well-timed, strategic acquisition for the company.
“The investments made in recent years by UNSW Global to broaden its product portfolio and transition online means it is poised for quality growth both domestically and internationally.”
“As we integrate it into our K-12 business it represents a step-change for Janison, and will immediately strengthen our position in the K-12 assessments market,” he added.
As consideration, Janison will only pay a nominal fee but will assume approximately $1.6 million in employee liability.
The acquisition is still conditional on closing conditions but Janison expects it to be completed around the end of May.
Janison’s share price rose 9.1 per cent today and by market close shares were worth 30 cents each.