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Eduwis – Clever Inked Merger to Reap Synergies

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KUALA LUMPUR: After months of merger talks, Preschool education provider Eduwis Holdings Berhad and Primary enrichment education provider ATC Education Holdings finally signed on the dotted line, paving the way for the merger of their respective operations, Eduwis and Clever.

Combining to become Eduver Education Berhad, it will create a historical merger in Malaysia private educations sector with a valuation of RM62.9million. At completion, Eduwis and ATC will have ownership of 76.3% and 23.7% in Eduver Education Berhad respectively. From the aspect of Kedios Berhad, we will be the largest shareholder in Eduver at completion in which we are expected to own a direct shareholding of 45.97% and indirect shareholding of 9.02% that adds up to a total of 54.99% ownership in Eduver.

The companies said on 29.9.2021 that the finalization of merger is indeed a positive move to stay ahead of uncertain economic environment and intense competition from China. The consolidation leads to greater market extension from 2 to 12 years old, improved operational leverage and help to dilute competition intensity in the private education market.

After the combination, Eduver will undergo its equity fund raise of RM24mil for expansion, product development and M&A activities.

Looking ahead, Eduver is planning to list in ACE Market by year 2025 claiming the first spot of private education provider of 2-12 years old listed in Bursa Malaysia.

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