A Chinese online game developer and mobile internet platform company known for creating China’s first online gaming portal, 17173.com, and the 91 Wireless app store. It was pivoting towards a "Education + Internet" strategy in 2014-2015.
NetDragon pursued Promethean to accelerate its global expansion in the educational technology sector.
The deal was made via an indirect non-wholly-owned subsidiary, Digital Train, and concluded in November 2015. 5. Post-Acquisition Developments and Evolution
Promethean had been suffering from falling revenues and losses ($6.9 million loss in the year prior to the deal), providing a, lower-cost entry for NetDragon to acquire a premium brand. 4. Deal Structure and Terms Price: 40 pence in cash per Promethean share.