PRnewswire | April 20, 2023
Promethean, a leading global education technology company, announced today that its parent company, NetDragon Websoft Holdings Limited, has approved a plan and entered into the related agreements to spin off the Promethean group of entities into a separate company that will subsequently merge with Gravitas Education Holdings, Inc., a public company.
Following the merger, expected to be completed in Q3, Promethean will benefit from operating as a standalone company separate from NetDragon, listed on the NYSE, with a distinct board and management team of world-class leaders focused on driving shareholder value. The new holding company will be renamed to MYND.AI at the transaction's closing to reflect the new brand and the company's direction to pursue the transformation of artificial intelligence (AI) in education.
Merging with Gravitas Education Holdings, Inc. (NYSE: GEHI) will enable the company to grow its global education business sustainably and further the development of new innovative technologies like AI. Promethean has expanded its product offerings to include software and AI in the past year. This merger is the next stage in the evolution of the company's goal to strengthen its global position in the market and remain the market leader in the U.S. and EMEA.
"The decision to spin off our overseas education business advances our ability to create value for customers and shareholders. Our business is at an exciting market inflection point as the world moves toward accelerating the application of AI in virtually all industries. We believe we are well ahead of the market in pushing forward the effective and practical use of AI in education, especially in the classroom," said Dr. Simon Leung, vice chairman of NetDragon and chairman of MYND.AI, upon closing of the transaction. "As we execute our plan to transform education with AI, this spinoff transaction will provide the right platform for the MYND.AI team to pursue our goal of becoming the dominant category leader in the AI-enabled classroom technology space. We are excited about our path ahead, and I want to thank our shareholders for their support as we embark on this journey together."
"As the classroom evolves, we continue to look to the future to provide innovative educational technology solutions that transform teaching and learning. We are excited to be at the forefront of integrating AI into our products that will add true education value, leveraging our investment in AI technology and our deep understanding of customer needs over the past 25 years," said Vin Riera, CEO at Promethean and MYND.AI, upon closing of the transaction. "This exciting new chapter will build on our mission to design learning and collaboration tools that deliver the most effective learning outcomes for teachers and students."
Promethean is a leading education technology company working to transform the way the world learns and collaborates. From our founding in Blackburn, England, more than 25 years ago to our global operations in 22 countries today, we've continued to explore, innovate, and inspire —designing learning and collaboration tools that are built for breakthroughs. Our award-winning interactive display, ActivPanel, and lesson delivery software, ActivInspire and ClassFlow, were designed to engage students, connect colleagues, and bring out the brilliance in everyone. With headquarters in Seattle, Washington, and offices worldwide, Promethean is a member of the NetDragon Websoft Holdings Limited (HKSE: 0777) group of companies.
CORPORATE EDUCATION AND TRAINING
PRnewswire | May 23, 2023
Universal Technical Institute (UTI), a division of Universal Technical Institute, Inc. and a leading workforce solutions provider of transportation, skilled trades and energy education programs, is bringing its "Summer Ignite" program back to help high school juniors make critical decisions about their post-secondary educational options.
The free, three-week program is the same introductory technician course taken by new UTI students. Once completed, participating high school students can test to earn course credit that can be applied if they enroll at UTI, lowering their cost of attendance.
"Our free Ignite program introduces a new generation of young students to a UTI education and the fulfilling career opportunities that await in the skilled trades," said UTI Division President Tracy Lorenz. "It's critical that we bring programs like this to our campuses, so that we can deliver the trained technicians our employer partners need. But it's also important that we provide prospective students with opportunities to fund their education."
UTI campuses also host high school students for competitions such as Skills USA and the Top Tech Challenge/Auto Tech Challenge, giving them a chance to win tuition grants. A total of over $710,000 in grants was awarded in 2022 through these competitions, which are held on an annual basis. High school seniors are also encouraged to apply for the "American Dream Grant." Participants can earn a grant up to $2,500, with a total of $475,000 available annually to 380 students maximum. Grant awards are based on how students do on a written test containing both academic and technical questions.
"It's encouraging to see growth in these competitions and in our 'Summer Ignite' program as we open students' eyes to the demand for skilled workers," continued Lorenz. "It's promising to see so many motivated, goal-driven young people willing to spend part of their summer taking our classes, learning new skills and getting a jumpstart on a technical education."
Participating campuses and program dates include:
• UTI-Austin (TX): June 26-July 14; July 17-August 4
• UTI-Avondale (AZ): June 5-June 23
• UTI-Bloomfield (NJ): July 17-August 4
• UTI-Dallas (TX): June 26-July 14; July 17-August 4
• UTI-Exton (PA): July 17-August 4
• UTI-Lisle (IL): June 5-June 23; June 26-July 14
• UTI-Long Beach (CA): June 5-June 23; June 26-July 14
• UTI-Miramar (FL): June 26-July 14 • UTI-Orlando (FL): June 5-June 23
• UTI-Rancho Cucamonga (CA): June 26-July 14
• NASCAR Technical Institute (NC): July 17-August 4
About Universal Technical Institute, Inc.
Universal Technical Institute, Inc. (the "Company") was founded in 1965 and is a leading workforce solutions provider of transportation, skilled trades and healthcare education programs, whose mission is to serve students, partners, and communities by providing quality education and support services for in-demand careers across a number of highly-skilled fields. The Company is comprised of two divisions: Universal Technical Institute ("UTI") and Concorde Career Colleges ("Concorde"). UTI operates 16 campuses located in 9 states and offers a wide range of transportation and skilled trades technical training programs under brands such as UTI, MIAT College of Technology, Motorcycle Mechanics Institute, Marine Mechanics Institute and NASCAR Technical Institute. Concorde operates across 17 campuses in 8 states, offering programs in the Allied Health, Dental, Nursing, Patient Care and Diagnostic fields.
CORPORATE LEARNING SYSTEMS
iMocha | April 13, 2023
iMocha, the world's leading skills intelligence and skills assessment platform launches project-based assessments to its growing portfolio of assessment types. It is built for talent development teams to gather whether employees are skill-fit and ready to be deployed on projects and determine ROI of learning programs.
Today, tech assessments are usually done via single-task coding assessments, whiteboard interviews, and MCQs but that's seldom enough to gauge project-readiness of employees or know the effectiveness of the upskilling programs. Especially for job profiles like front-end developer, back-end developer, full-stack developer, assessments that go beyond algorithms, syntax, and logic are required. iMocha's project-based assessments help talent professionals overcome these challenges and determine skill readiness, including problem-solving skills, domain-specific skills, contextual understanding, and ability to think through a project.
In August 2022, the beta version of iMocha Projects was deployed for iMocha's existing customers that included enterprises and learning platforms. Through the project-based assessments, L&D teams were able to automate time-consuming, manual evaluations that could be subject to bias. Further they also received detailed skills analytics about their employees – which helped in creating accurate and personalized learning paths. Some of the most popular skill sets beta users utilized were ReactJS, Data Science and Machine Learning, Java Spring Boot, MySQL, and more.
Sujit Karpe, CTO and co-founder of iMocha, explained, "This is iMocha's version of capstone projects: we provide the data, the problem statement, and essentially everything required to successfully work on a project. Often, coding assessments fell short in determining real-life skills; they also cannot handle multiple project files like ReactJS, Angular, Jupyter Lab, and more. With iMocha projects, talent development leaders can bridge the gap between experiential learning and hands-on knowledge application by evaluating employees on real-world challenges, similar to what they would be facing on the job."
He continued, "With iMocha Projects, talent leaders will be able to show true value gained via their L&D programs and measure training effectiveness objectively."
iMocha is a skills intelligence and assessment platform that enables talent leaders to make smarter talent decisions with its skills-first insights. 500+ organizations across 70+ countries trust the platform to acquire job-fit talent faster and to measure the ROI from their talent development initiatives. It empowers talent teams with the largest skill library with 2500+ assessments, AI-LogicBox (AI-based pseudo-coding simulator), AI-EnglishPro (AI-powered language analyzer), skill benchmarking, upskilling dashboard, talent analytics, proctoring, fraud detection, and custom assessment consulting, etc.