VTGN- News Out SO PAULO, Brazil, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Vasta Platform Limited (NASDAQ: VSTA) announces the acquisition of Meritt, the most complete and cutting-edge digital assessment platform in the country. A team with over 10 years’ experience and over 500 schools served, Meritt possesses the largest K-12 database in Brazil and will help our partner schools with their digitalization process. The startup currently has 153 active clients, a number 40% superior to that of 2019, and is expected to close the year with an estimated revenue of BRL 1.5 million. In addition to aggregating a digital solution to the platform, bringing in new clients, and contributing with its experience in data analysis, Meritt will also provide relevant cost synergies with the streamlining of tests and mock exams for the Vasta brands.
With the acquisition of an Edtech company, Vasta reaffirms its commitment to expand the digital solutions offered by its platform and aims to provide an improved learning management based on data and evidence, contributing to bolster students’ academic performance. Meritt's experience and methodology will help Vasta make a new stride in its investments in online and adaptive testing, gaining new ground in assessment customization, as well as allowing for results comparison between all students enrolled in the platform. This methodology will make it possible to more quickly identify each student's strengths and areas for improvement, guaranteeing a continuous evolution of their academic results, both in traditional exams and selection processes.
Meritt's history has always been permeated by innovation. Their insertion into the country's leading digital platform and the integration of its staff will accelerate the digital transformation process, support schools in their transition to a more dynamic teaching model and in the development of an education that is more attuned to the present day.
Meritt's online solution will be made available to all Plurall partner schools starting on the first bimester of 2021, whereas the adaptive solution will be gradually incorporated into the platform's teaching models.
VASTA’S MISSION
Our mission is to help private K-12 schools to be better and more profitable, supporting their digital transformation
ABOUT VASTA
Vasta is a leading, high-growth education company in Brazil powered by technology, providing end-to-end educational and digital solutions that cater to all needs of private schools operating in the K-12 educational segment, ultimately benefiting all of Vasta’s stakeholders, including students, parents, educators, administrators and private school owners. Vasta’s mission is to help private K-12 schools to be better and more profitable, supporting their digital transformation. Vasta believes it is uniquely positioned to help schools in Brazil undergo the process of digital transformation and bring their education skill-set to the 21st century. Vasta promotes the unified use of technology in K-12 education with enhanced data and actionable insight for educators, increased collaboration among support staff and improvements in production, efficiency and quality. For more information, please visit ir.vastaplatform.com .
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ri@somoseducacao.com.br