OpenLearning Limited (ASX: OLL) has finalized a binding agreement to acquire three major Australian higher education marketplaces, namely PostGradAustralia.com.au, TheUniGuide.com.au, and StudyNewZealand.nz. These platforms, currently owned by Prosple, attract over 800,000 users annually, offering more than 15,000 courses from 70 institutions. The acquisition, valued at a maximum of $300,000, aims to enhance OpenLearning's customer acquisition capabilities.
The marketplaces, profitable through listing fees paid by education providers, align strategically with OpenLearning's platform, providing cross-selling opportunities and minimal additional investment requirements. OpenLearning's CEO, Adam Brimo, expressed enthusiasm for the acquisition, emphasizing the value it adds to their platform, diversified product mix, and potential for cross-selling. The transaction's completion is contingent on meeting conditions within 90 days.
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