Scienjoy Holding Corporation to Acquire 29.9% Stake in Chinese Higher Education Service Provider Leader Education Limited
Scienjoy Holding Corporation announced it has entered a sale and purchase agreement, through its wholly-owned subsidiary Scienjoy Innovation Labs Inc., to acquire 239,234,000 ordinary shares of Leader Education Limited from its controlling shareholder Shuren Education Limited for HK$102.69 million (approximately US$13.1 million). The acquisition represents a 29.9% stake in Leader Education, a provider of private higher education services in China.
Why it matters — This transaction expands Scienjoy's investment footprint beyond its core mobile live streaming business into the private higher education sector in China through a minority stake acquisition.