Promethean (under NetDragon) continued to innovate, acquiring Explain Everything in 2022 to strengthen its digital whiteboard SaaS capabilities.

The deal was made via an indirect non-wholly-owned subsidiary, Digital Train, and concluded in November 2015. 5. Post-Acquisition Developments and Evolution

In 2023, NetDragon announced a plan to spin off Promethean to merge with Gravitas Education Holdings, aiming to operate as a standalone company (later known as MYND.AI) listed on the NYSE to focus on AI in education.

The offer represented a ~48% premium over the closing price of 27 pence on June 15, 2015.

Promethean had been suffering from falling revenues and losses ($6.9 million loss in the year prior to the deal), providing a, lower-cost entry for NetDragon to acquire a premium brand. 4. Deal Structure and Terms Price: 40 pence in cash per Promethean share.

Look into Promethean made due to NetDragon's investment? NetDragon expands with Promethean acquisition

Following the acquisition, Promethean continued to operate under NetDragon, with significant changes occurring years later: