Shengtong Printing is acquiring educational robot school operator RoboRobo Education while Tencent Holdings invests in knowledge-sharing platform Zaihang and Fenda.
The Shenzhen-listed Shengtong has agreed to purchase RoboRobo Education in a deal totaling RMB 430 million ($62 million) in a cash-cum-stock deal.
RoboRobo Education raised RMB10 million in angel investment from Zhen Fund in 2014 and received $10 million from New Oriental Education & Technology Group Inc. last year.
The company was set up in 2012 in Beijing as the general agent in China for South-Korean based educational robot courses and tool developer Roborobo. Now, it operates 16 schools in Beijing, Shanghai, Guangzhou, Shenzhen, Nanjing, and other cities.
RoboRobo Education projects net earnings to reach RMB32 million in 2016 and RMB 40 million in 2019.
Tencent backs Zaihang, Fenda
Tencent has invested an undisclosed amount of funding in platform Zaihang and Fenda, the company announced on its Wechat public account, as quoted by ChinaMoneyNetwork.
Zaihang was launched earlier in 2015. It allows users to request audio calls or meet in person with thousands of experts including consultants, investors, executives for a fee.
Meanwhile, Fenda is an audio Q&A knowledge sharing mobile app that was released in May. It rapidly attracted enormous popularity by enlisting Chinese celebrities to discuss adult subjects. Fenda raised $25 million from Vision Plus Capital, Sequoia Capital, Wang Sicong and Luoji Siwei in June and an earlier pre-A round.