Sber has closed a deal to buy online schools Netology and Foxford. The purchase amount could amount to between 4 billion and 6 billion rubles, Kommersant reports citing sources in the online education market.
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Netology declined to comment, and Foxford representatives noted that they continue to cooperate with Sber within the framework of various educational projects, but did not directly confirm the agreement.
Anastasia Mironova, editor of the Edtechno Telegram channel, suggested that Netology and Foxford will be fully integrated into Sber’s corporate structure and will lose part of their autonomy, or will retain relative independence, but will be closely related to other projects of the company. bank.
A media market source believes that the assets could be transferred under the management of the New Opportunities company, which already manages former Sber media assets such as Okko and the Zvuk music service.
- In 2014, Foxford merged with Netology. In 2017, 40% of the Netology Group holding was sold to the IT holding TalentTech, owned by Alexey Mordashov’s Severgroup, and then the stake increased to 85%.
- In June 2023, Severgroup was withdrawn from the founders of TT-Holding LLC, which owned 100% of Netology LLC and 93% of Foxford LLC (7% belonged to Netology Group co-founder Alexey Polovinkin).
- In April 2024, reports surfaced about Sber’s plans to purchase Netology and Foxford from TalentTech. Analysts estimated the transaction at 7 billion rubles.
- In late September, Foxford co-founder Alexey Polovinkin announced that he had left the company’s founders.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
