Vitru Limited, or “Vitru” (NASDAQ:VTRU) today announced the acquisition of Rede Enem, a platform that provides free content through an ecosystem that includes blogs, free preparatory courses, and social media profiles.
The purpose of Rede Enem is to improve the performance of secondary education students, mainly coming from public schools, in the National Secondary Education Examination (Exame Nacional do Ensino Médio, or ENEM). The ENEM result is part of the criteria for the selection process in the University for All Program (Programa Universidade para Todos, or PROUNI), Student Financing Program (Fundo de Financiamento Estudantil, or FIES), and scholarships in private educational institutions. Rede Enem also provides preparatory course with free content for the National Certification of Skills for Young People and Adults Examination (Exame Nacional para Certificação de Competências de Jovens e Adultos, or Encceja).
Rede Enem had more than 24,2 million views considering only two of its main domains in 2021, is the major share of voice between platforms focused on ENEM from June to August 2022, and is one of the five biggest preparatory courses channels for ENEM in volume of users and views on YouTube. The platform has a large flow of users and is an opportunity to get closer to our target audience.
The purchase price paid to sellers amounts to R$3 million, of which R$1.5 million was paid in cash, and an earn-out of up to R$ 1.5 million can be paid within 24 months upon the fulfilment of obligations and results goals.
“We believe that this deal is aligned with our mission, promoting access to knowledge through education but also an opportunity to open doors for our educational institutions”, according to Pedro Graça and William Matos, Vitru’s Co-CEOs.
