Kognity completes acquisition of Elite IB
This week Lanterna (part of the Kognity group) acquired Elite IB, a global tutoring and online course company.
Through the acquisition, Lanterna doubles its tutoring capacity addressing the international private schools market, which consists of over 10,000 schools and five million students. The group plans to deliver over 100,000 tutoring sessions and increase its revenues to over $6 million during 2022.
“I am incredibly excited to join forces with a global edtech leader with the right vision, culture and leadership in place. I couldn’t find a better fit for Elite IB”, says Elite Founder Tim Hoffmann, who will take on a senior leadership role in the new organisation.
“We are thrilled to add Elite IB’s unique online course proposition along with its extensive tutor base and talented team to the Lanterna family”, says Daniel Bjarne, CEO of Lanterna.
Elite IB will continue to operate under its own brand and its team will be integrated with Lanterna’s. The new combined business is expected to continue growing together.