Sydney-based ed tech Janison Education is acquiring Quality Assessment Tasks (QATs) for A$2 million (£1.08 million), The Market Herald has reported.
Of this, $1.25 million will be paid in cash on completion of the deal, with and the balance deferred for one year contingent upon achieving a certain revenue target in fiscal year 2022. The total consideration will be funded from Janison’s cash balance.
Richmond, Victoria-headquartered QATs develops and sells assessments and material to support Australian secondary school students in years 11 and 12 studying for end-of-year exams. The assessments are created digitally and sent electronically to teachers and schools across Australia.
QATs has approximately 50% national market share of the 2,800 total of Australia’s secondary schools.
Janison’s managing director David Caspari said: “Ever since our acquisition of ICAS in 2020, our business has been on a journey to accumulate a suite of world-class assessments for the schools’ market, allowing Janison to pair its tried-and-tested assessment platform technology with a broad content portfolio of school products.”
Date published: 11 October 2021