TALENT DEVELOPMENT
Globenewswire | May 29, 2023
Lincoln Educational Services Corporation, a leading provider of specialized technical training, including automotive technology, the skilled trades, healthcare, IT, culinary, and cosmetology has been included in the preliminary list of additions to the annual reconstitution of the broad-market Russell 3000® Index. The list including Lincoln was posted to the FTSE Russell website following the close of the U.S. markets on May 19, 2023. The annual reconstitution is effective as of the U.S. market open on June 26, 2023.
Lincoln Tech is one of the nation’s leading technical schools focusing on career skills training. The school has been providing workforce solutions for employers, ranging from small independently owned businesses to large international corporations, for over 75 years. “Lincoln continues to play a critical role in helping to address the tremendous skills gap that our country is facing,” says Scott Shaw, Lincoln Tech’s president and chief executive officer. Shaw adds, “Our graduates move into jobs that have been deemed essential and contribute to the economic growth of companies and communities. We’re very proud to be included in this list.”
Membership in the Russell 3000® Index means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as in the appropriate growth and value style indexes. The Russell 3000® Index encompasses the 3,000 largest U.S.-traded stocks by objective, market-capitalization rankings, and style attributes. Membership in these indexes is updated annually and remains in place for one year.
The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
About Lincoln Educational Services Corporation
Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education. Lincoln offers recent high school graduates and working adults career-oriented programs in five principal areas of study: automotive technology, health sciences, skilled trades, business and information technology, and hospitality services. Lincoln has provided the workforce with skilled technicians since its inception in 1946.Lincoln currently operates 22 campuses in 14 states under four brands: Lincoln Technical Institute, Lincoln College of Technology and Euphoria Institute of Beauty Arts and Sciences. Lincoln also operates Lincoln Culinary Institutes in both Maryland and Connecticut.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20.1 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group.
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ONLINE EDUCATION
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."
About Promethean
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.
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CORPORATE LEARNING SYSTEMS
PRnewswire | April 04, 2023
Spark Education Group ("Spark"), one of the world's largest provider of small-group online classes for K-12 education, is celebrating 5 years since its first online class in March 2018. With its award-winning programs such as Spark Math, the edtech has served over 650,000 students in more than 100 countries and regions.
Since its inception, Spark Education has focused on prioritizing students' learning experience for optimal education outcomes. Its team of over 1,000 curriculum researchers and designers use research-based, proven teaching methods, focusing on building a strong foundation with deep understanding rather than memorization. The company's investments in interactive technology to create proprietary systems and courseware ensure students are engaged and able to connect in real-time with teachers and peers. Taking a collaborative approach with pedagogy experts, curriculum designers, child psychologists, engineers, and designers, Spark has set out to challenge traditional classrooms and ways of learning, to re-imagine what the optimal learning experience could be for kids. This has resulted in improved academic performance and strong problem-solving skills in Spark's students. Parents have been strong supporters of Spark's programs with about up to 80% annual renewal rate and about 77% of new students coming from current student referrals in some regions.
The launch of the Canadian Spark Education Learning Center coincides with Spark's 5th anniversary. With a student-centric education philosophy, the center will offer fun and engaging classes including math, language learning, problem solving and more. Lessons are designed to empower students to learn, visualize, and connect real-life experiences to classroom content.
"We are extremely proud to launch Spark's first learning center in Vancouver, which has already attracted not only local families but also those who drive from further afield," said Susan Pan, Head of Canada Spark Education Learning Center. "We firmly believe that our interactive learning experience will make learning math and languages more fun and effective for Canadian students, and we look forward to continuing to expand our physical locations to increase our impact."
The center provides an opportunity for students and parents to see and interact with the Spark Education experience, talk with its teachers, and maybe even meet some of the main characters from their class adventures, all in a welcoming and educational space. This marks another step in the edtech's mission to spark passion for learning, igniting lifelong growth.
About Spark Education Group
Founded in 2017, Spark Education Group is headquartered in Singapore. Its portfolio of education brands aims to combine research-based pedagogy with technology to improve the learning experience and education outcomes for students around the world. It was recently awarded "Best Interactive Learning Experience" at EdTech Asia, and recognized as a Parent and Teacher Choice Award Gold Medal Recipient.
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