Holy Owly’s application has more than 200,000 downloads and is available to children ages 3-12.
, Holy Owly has developed an EdTech application that allows children to learn English and Spanish through interactive games. Through this acquisition, we are building an important foundation for creating a premium learning platform for families with younger children in the French market”, says Arta Mandegari, CEO and co-founder, Albert.
Holy Owly is a strategic acquisition that gives Albert access to a well-known and popular brand with strong French market position and a documented good and complementary product. While complementing the Junior platform with a curriculum-based product for children learning new languages. With its strong position in the French market and numerous awards from Apple, including “one of the 5 most promising apps of 2022”, we look forward to both consolidate and strengthen the position in , which is adapted for the same customer segment. We are incredibly impressed with their product for language learning for children aged 3-12, which in a good way complements our offer with “Holy Owly has made a strong impression on us. Holy Owly offers an application that enables language learning for children aged 3–12. The subscription price for the Consideration Shares amounts to The purchase price is paid in the form of 482,750 newly issued shares in Albert ("Compensation Shares"). , from which deductions would be made for leakage and shareholder loans, whereby the final purchase price amounts to The initial purchase price amounted to approximately , Albert announced that the Company entered into an agreement for all shares in the French EdTech company Kids MBA SAS ("Holy Owly") from its current owner. Albert completes the acquisition of Kids MBA SAS (Holy Owly)
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