LONDON, UK: Dev Clever has acquired The Inspirational Learning Group Limited (“TILG”), a profitable and established UK-based educational business, has been completed.
The acquisition of TILG was initially announced on 21 June 2021 and it has now been acquired for a cash consideration of £129,200 and the issue of 6,994,177 new ordinary shares in Dev Clever, subject to a phased two-year lock-in period.
TILG’s activities will complement Dev Clever’s existing career guidance and development platforms and enhance the Company’s content offering. With the acquisition now completed, the Company will utilise the careers programmes developed by TILG to launch its own National Career Challenge (“NCC”). The NCC will be available to students in the UK during late Q4 2021.
Additionally, Dev Clever is committed to delivering an NCC programme in India, where it has a well-established partnership with the National Independent Schools Alliance (“NISA”), in H1 2022. As previously stated, Dev Clever expects to use the Career Challenge initiative to enter additional large emerging market territories over the next three years.
The completion of the acquisition of TILG, together with the impending signing of definitive documentation relating to the tactical partnership and contract agreement with Aldebaron DMCC, will substantially extend Dev Clever’s proposition and strengthen its entry into new markets whilst allowing the Group to swiftly expand its global user base. Dev Clever is pleased to report that it is making good progress in regards to the signing of definitive documentation with Aldebaron DMCC and expects the relevant documents to be completed before the end of August 2021.
Dev Clever will now progress with the pilot launch of the NCC programme in the UK in late Q4 2021 and then commence the rollout across India in H1 2022 where the Company will invite all 1.5 million public and private schools to participate, providing the potential to reach c. 280 million students who can participate in what will become known as the Indian National Career Challenge.
Dev Clever has already made significant progress in relation to its partnership with NISA, including the successful development and deployment of the Company’s direct to consumer offer into Launchmycareer.com – which is now live across India. Dev Clever and its Indian management team are really encouraged with the high level of interest and school sign up volumes that have already been achieved now that a series of events across all regions in India have been launched.
Chris Jeffries, CEO of Dev Clever, said: “The combination of Dev Clever’s career guidance and development platforms and TILG’s well-established Challenge programmes is a powerful proposition. We are confident it will enable us to rapidly scale our global user base, starting in the UK and in India, where our tactical partnership with Aldebaron means our offering is the central conviction ‘go to market education initiative’ for an exciting new social media proposition.
“We are making excellent progress with NISA and have received very positive feedback following the initial launch events that have been held in recent weeks. The framework for the launch of the NCC is now agreed and we are confident it will engage many young students who will ultimately all benefit from the services that we are able to provide them.”
Michael and Ben Dyer, Co-Founders of The Inspirational Learning Group, added: “Our proposition has developed from a simple idea into a fully-fledged challenge that is the largest of its type in the UK. The journey that we have been on has proven to be extremely successful, and we are now able to draw on Dev Clever’s deep roots within significant international territories with large addressable markets, such as India. The combination of our operations makes for a compelling proposition, and we are working hard with Chris and the rest of the wider Dev Clever team to deploy our combined services in the UK later this year and in India in 2022.”