The company behind online education tools Mathletics and Reading Eggs is making a $283 million entry on the share market as it looks to expand across the world.
3P Learning says the online education industry is growing rapidly as printed textbooks and workbooks are phased out in favour of technology-based education.
The company holds the distribution rights to several online education brands, most notably the Mathletics numeracy program for students in kindergarten through to year 12, plus the Reading Eggs literacy program for those in infants and primary.
3P Learning is well established in Australia, New Zealand and the UK, with 3.2 million Mathletics licenses and 800,000 Reading Eggs licences.
The company plans to expand in the US, Canada, Hong Kong, South Africa, and Abu Dhabi.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
It is offering shares to the public at $2.50 each to raise an expected $283 million, which will be used to fund its growth plans.
The company expects its market value to be $337 million when it lists on the share market in mid-July, with existing shareholder Pascal Press maintaining a 10 per cent share take after the company goes public.
3P Learning chief executive Tim Power has 15 years of experience in the development of education technology, and worked with the company for a decade.
