China's Ping An Insurance acquires stake in edtech firm iTutorGroup

Inside iTutorGroup's office in Shanghai. Photographer: Qilai Shen/Bloomberg

China’s largest insurer Ping An Insurance announced on Friday that it has picked up a stake in edtech firm iTutorGroup through its overseas subsidiaries.

Following the investment, iTutorGroup will become part of Ping An’s smart education business. The quantum of the stake and the financial details of the transaction were not disclosed.

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