BEIJING, Jan. 4 /Xinhua-PRNewswire/ -- China Education Alliance, Inc
(OTC Bulletin Board: CEDA), one of China’s leading e-learning and online education enterprises, reported that its subsidiary, Harbin Zhong He Education Training Center, reached an agreement to acquire all of the physical and intangible assets of Harbin Compass Vocational Training School (CVTS). CVTS focuses on vocational IT training and offers leading programs for Network Engineering and ACCP Software Engineering. With this acquisition, Zhong He becomes the exclusive educational training partner of Beida Qingniao APTECH IT Co., Ltd. (APTECH) within the Heilongjiang Province of China. This partnership demonstrates CEDA’s commitment to promoting IT training across mainland China.
Zhong He acquired the assets, which include classrooms, computer rooms and patented course materials, for US $1,000,000 in cash and stock. The deal closed on December 10, 2006. CEDA estimates that the acquisition of CVTS and subsequent partnership with APTECH will generate US $1 million per year.
CEDA CEO Yu Xi-qun stated, “This acquisition will increase CEDA’s presence in the vocational education market, as well as provide on-site training space and resources in addition to our Heilongjiang Zhong He Education Training Center. We are also very pleased to be the new exclusive partner of Beida Qingniao APTECH IT Co. in Heilongjiang.”
About China Education Alliance, Inc. (CEDA)
China Education Alliance, Inc. (CEDA), formerly known as ABC Realty, Inc., is registered in the state of North Carolina, USA. The company’s strategy is to provide high-quality online educational services including: exam preparation outside the centralized Key High Schools, vocational training for recent graduates and continued professional development training. It mainly operates through its wholly owned subsidiaries, Harbin Zhong He Li Da Education Technology Company Limited ( http://www.edu-chn.com ) and the Heilongjiang Zhong He Education Center for its on-site training services.
About Harbin Compass Vocational Training School (CVTS):
The Authorized Training Center with Beida Qingniao APTECH IT Co., Ltd. in Heilongjiang Province, also known as the Harbin Compass Vocational Training School (CVTS), is the exclusive educational training partner of Beida Qingniao APTECH IT Co., Ltd., within the Heilongjiang Province of China. Beida Qingniao APTECH IT Co., Ltd. is a joint venture between Beida Qingniao Group and the APTECH Company of India, created in January 2001 to promote IT training across Mainland China. Beida Qingniao is the most influential IT Training brand in Mainland China. CVTS currently has two vocational education programs in Network Engineering and ACCP Software Engineering, and owns 6 classrooms and 6 computer rooms.
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Taylor Rafferty:
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Ruby Yim
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Delia Cannan
Tel: +1-212-889-4350