NetDragon to Snap Up Promethean World for $130 Million

PROMETHEAN: Chinese gaming behemoth, NetDragon has agreed to acquire Promethean World for 40 British pence a share, which would value the deal at approximately £84.1 million (US $130 million). Founded in 1997, the British educational technology company is best known as the creator of interactive whiteboards but sales and revenue have suffered for years. (It posted a loss of £6.9 million last year.) Promethean raised £185 million from an initial public offering in March 2010. "Promethean’s directors said they would unanimously recommend that shareholders accept the offer," according to EducationInvestor. The deal is expected to close within two months, and those Promethean employees who transfer can look forward to NetDragon's USS Enterprise office.

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