India, March 6 -- Arco Platform Ltd (ARCE) announced that it has agreed with Pearson Education do Brasil Ltda. to acquire COC and Dom Bosco, two important K-12 learning systems in Brazil, for R$920 million in cash.
Pursuant to the deal terms, 80% of the purchase price payable at the time of closing, and the remaining 20% payable on the first anniversary of the closing date, as adjusted. The transaction also includes an agreement with Pearson to distribute some supplemental educational solutions for K-12 schools in Brazil.
This transaction is not subject to any shareholder approvals, but is subject to customary closing conditions, including Brazilian antitrust approvals.
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