Galaxy announces to pour investment in online education by becoming major shareholder of Hocmai. — VNS Photo
An integrated media and entertainment group in Viet Nam, Galaxy Media and Entertainment (Galaxy), on Thursday announced its official entry into Vietnam’s rapidly growing online education sector by acquiring a majority stake in Education Services and Investment Corporation (Hocmai).
Declining to reveal detailed figures about the acquisition, Galaxy, however, affirmed that they will become the major shareholder of Hocmai after the deal.
Luong Cong Hieu, CEO of Galaxy, said: “We have been looking to enter this field for more than a year and have been looking for a true education company in the market. We find that the leaders of of Hocmai are true educators who are passionate and understand deeply the changing environment of K12 education. Hocmai is widely recognised by parents, students and other education entities as the number one brand in K12 online tutoring with the best education content and the highest market share. We are confident that with the support of Galaxy, Hocmai will have more resources to develop and capture the increasing demand for online education in Việt Nam.”
Following its investment in Hocmai, Galaxy is looking to invest in other online education companies in all segments including preschool, high school, university and vocational training, the company said.
Pham Giang Linh, CEO of Hocmai, said: “We are very happy to partner with a major media and technology company like Galaxy. This partnership will support and reinforce our vision of creating and delivering high quality personalised learning experiences for all Vietnamese students. Moreover, this partnership will help us explore and leverage our expertise in education by adding more value to our online learning programs."
After more than 13 years of operation, hocmai.vn has attracted more than 4 million students, and has provided more than 1,000 courses, 30,000 lectures per year taught by more than 200 teachers on computers, laptops, tablets and smartphones.
Galaxy was the first private-sector company to enter Việt Nam’s entertainment market in 2004. The company developed the first Galaxy cinema chain in Việt Nam and is the official distributor for major Hollywood studios including Sony, 21st Fox Century and Warner Brothers.
Galaxy shareholders are experienced investors in the digital economy with portfolio companies including Galaxy Play, Vietnam's number one streaming service, and MoMo, Vietnam's first fintech unicorn, among others.
Galaxy ME is the leading Integrated Media and Entertainment Group in Viet Nam, operating in film and series production, film distribution, cinemas, magazine publication and online news, VOD streaming platforms, and online education platforms. — VNS