Netdragon Websft Stock Price, News & Analysis

Promethean, an education technology company, is set to merge with Gravitas Education Holdings, Inc. (NYSE: GEHI) following a spin-off approved by its parent company, NetDragon Websoft Holdings. The merger, expected in Q3 2023, will allow Promethean to operate as an independent firm, listed on the NYSE as MYND.AI, with a dedicated management team aiming to enhance shareholder value. This strategic move is intended to bolster Promethean's position in the global education market and accelerate the development of innovative AI technologies. The leadership expressed confidence in the merger's potential to transform educational practices and foster sustainable growth.

NetDragon Websoft Holdings Limited and Gravitas Education Holdings Inc. (GEHI) have signed a merger agreement to combine their operations, particularly focusing on the overseas education sector. This transaction is valued at US$750 million for NetDragon's education business and US$800 million for the merged entity, which will be renamed MYND.AI upon completion by the end of Q3 2023.

Post-merger, NetDragon will own 72.9% of GEHI, which will divest most of its existing operations, except a profitable segment in Singapore. MYND.AI aims to leverage AI in education, enhancing shareholder value through an independent management team and better financing options.

Promethean, a leader in interactive display technology, has launched the ActivPanel LX, aimed at schools seeking an affordable yet high-quality solution for classroom technology. This new panel features a 4K display, USB-C connectivity, and compatibility with existing educational software, making it user-friendly for both teachers and IT staff. Promethean's chief product officer highlighted the importance of affordability and versatility in meeting diverse school needs. The company positions the ActivPanel LX to enhance classroom learning experiences while maintaining rigorous security protocols without frequent updates.

NetDragon Websoft Holdings reported strong financial results for FY2022, achieving record-high revenue of RMB7.9 billion, a YoY growth of 11.8%. The education division led growth with a 34.2% increase to RMB4.3 billion, now accounting for 55.1% of total revenue. The company announced a final dividend of HKD0.40 per share, totaling HKD1.30 for the year, approximately 73% of profits. Although the gaming segment faced challenges with a 5.8% revenue decline to RMB3.4 billion, overseas gaming showed growth, up 6.5%. The company is focusing on R&D to develop new games and expand its market reach, positioning itself for future growth.

NetDragon Websoft Holdings Limited announced that its subsidiary, Promethean, has been recognized as the global leader in interactive flat panel displays (IFPDs) for education, according to Futuresource Consulting's Q4 2022 report. This marks Promethean's fifth consecutive year at the top in the K-12 sector, with a 30.8% market share in the U.S. Promethean's new products, ActivPanel 9 and Symphony Classroom, aim to improve workflow for teachers. The company is also targeting the corporate market with ActivPanel 9 Pro, enhancing collaboration and productivity.

Promethean has been recognized as the global leader in interactive flat panel displays (IFPDs) for education for the fifth consecutive year, according to Futuresource Consulting's Q4 2022 report. In 2022, the company achieved a significant 30.8% market share in the U.S. K-12 sector, along with 24.9% in the UK and Ireland, and 22.9% in Germany. The recent launches of the ActivPanel 9 and the Symphony Classroom digital assistant showcase Promethean's adaptability to evolving educational needs. Additionally, the ActivPanel 9 Pro targets corporate demands for interactive displays, emphasizing enhanced collaboration and productivity in modern workplaces.

Promethean, a leader in interactive display technology, announced the launch of ActivPanel 9 Pro on January 24, 2023. This innovative solution aims to enhance collaboration and productivity in the workplace while being affordable for businesses of all sizes. Key features include a high-quality touch experience, superior audio and visuals, and seamless integration with existing hardware. The panel is equipped with various peripherals such as a Logitech wireless keyboard and advanced software tools. Promethean has a strong presence in the corporate market, supported by positive customer feedback, such as from NCR, a major client.

NetDragon Websoft Holdings Limited announces the successful launch of Neopets: Faerie's Hope, a highly anticipated Match-3 game developed by its subsidiary JumpStart Games. Available in the U.S., Canada, U.K., France, and Germany, the game allows players to explore the world of Neopia, solve entertaining puzzles, and customize their own homes in New Faerieland. CEO Jim Czulewicz expressed excitement about the game's engaging features and connection to classic Neopets storylines, signaling its potential to attract dedicated fans and new players alike.

NetDragon Websoft Holdings Limited announced the acquisition of Explain Everything by its subsidiary, Promethean, enhancing its educational technology offerings. This strategic move aims to integrate Explain Everything's digital whiteboard capabilities into Promethean's portfolio, fostering innovation in teaching and learning solutions. The acquisition is expected to generate new software subscription revenues while providing enhanced collaborative tools for educators and students worldwide.