Arco Platform Limited, or Arco (NASDAQ:ARCE),today announced that it received, on September 30, 2021, final antitrust approval from Brazil’s Administrative Council for Economic Defense – CADE, with no conditions, in connection with its previously announced acquisition of COC and Dom Bosco learning systems, which it has now completed.
The payment terms set forth in the purchase agreement were updated upon closing of the transaction to a total purchase price of R$800.4 million, adjusted for COC’s and Dom Bosco’s cash and working capital positions as of September 30, 2021, paid in a single installment on the transaction closing date.
The acquisition of COC and Dom Bosco consolidates Arco’s leading position in core solutions for the private K-12 segment by diversifying the pricing and geographic reach of its existing portfolio, while allowing Arco to unlock additional opportunities to cross-sell supplemental products and upsell within existing partner schools.
The incorporation of COC and Dom Bosco into Companhia Brasileira de Educação e Sistema de Ensino S.A., Arco’s subsidiary incorporating the acquired businesses, is expected to be concluded in the first quarter of 2022.
About Arco Platform Limited (NASDAQ:ARCE)
Arco has empowered hundreds of thousands of students to rewrite their futures through education. Our data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content, and high-quality pedagogical services allow students to personalize their learning experience while enabling schools to thrive.
