Core Points - TCTM Kids IT Education Inc. has entered into an agreement to acquire core algorithms and related software and hardware systems for brain-computer interfaces from Jeethen International Co., Limited for a total value of US$10.85 million [1][2] - The acquisition will be paid through the issuance of 135,625,000 Class A ordinary shares, calculated based on a per share purchase price of approximately US$0.08 [1] - The transaction is part of the company's strategy to expand into the AI-driven medical software industry, aiming for revenue growth and improved profit margins [2] Company Overview - TCTM is a leading provider of IT-focused supplementary STEM education services in China, targeting students aged three to eighteen [3] - The company offers a range of programs including computer coding and robotics programming, utilizing a combination of live distance instruction, classroom-based tutoring, and online learning modules [3] - TCTM's educational approach encourages logical thinking and helps children discover their interests and potential through innovative STEM education [3]
TCTM Announces Entering into An Intangible Asset Purchase Agreement