The Tellus Group is taking further steps in the education services sector through the acquisition of Språkservice 24

Published: April 14, 2023

  

IR - Regulatory Affairs, Operations

Tellusgruppen AB (publ) is now expanding its range of educational services and native language instruction through the acquisition of Språkservice 24. The company is a leading provider of specialized services in modern languages, native language instruction, and academic counseling, all tailored to the specific needs of schools and students.

The Tellus Group is acquiring all shares in the company. The purchase price will be paid partly with newly issued shares and partly via a vendor note with a 24-month term. The purchase price for the shares, excluding cash, is SEK 7,700,000. SEK 3,465,000 will be paid in cash and SEK 2,310,000 through newly issued shares at the prevailing price on the closing date. Based on the closing price on April 12, this would entail 275,000 new shares and a dilution of 1.9 percent. SEK 1,925,000 will be paid via a promissory note maturing 24 months after closing. Closing will take place on August 1, 2023.

Språkservice 24 was founded in 2011 and has approximately 60 professional teachers who teach more than 50 different languages. For the 2021/22 fiscal year, the company’s revenue totaled SEK 5.2 million and its operating profit was SEK 1.6 million.

In October 2022, the Tellus Group acquired Omniglot, a large company offering services similar to those of Språkservice 24. With this latest acquisition, the Tellus Group has established itself as by far the largest private provider of native-language instruction and academic tutoring in Sweden.

Omniglot and Språkservice 24 will retain their respective brands and will continue to operate as two independent companies. This is essential to providing the market with diversity in this sector. However, the companies will benefit from the economies of scale available within the Tellus Group in areas such as development and administration.

“The Tellus Group continues to grow in the field of educational services, which is our newest business segment,” says Bijan Fahimi, CEO of the Tellus Group. “In addition to native language instruction and academic tutoring, we see significant opportunities to expand this new business segment through acquisitions and organic growth.” For example, we can incorporate more digital solutions into this area, which will provide students, schools, and the Tellus Group with exciting opportunities for development.

For more information

Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.noboxdesign.se
+46 707 167 453

MAR

This information is information that Tellusgruppen AB (publ) is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on April 14, 2023, at 11:30 a.m. CEST.

Certified Adviser

The Company’s Certified Adviser is Mangold Fondkommission AB, which can be reached by phone at 08-503 015 50 and by email at ca@mangold.se.