US Scientific Learning to acquire BrainMaps in China

Scientific Learning Corp has signed a non-binding Letter of Intent (LOI) with Brain Maps Technology Co Ltd to acquire Shanghai-based BrainMaps, a blended learning company with over 70 franchised English language learning centers across China. BrainMaps combines Scientific Learning’s (SCIL) patented language learning technologies and a unique online to offline methodology to help students ages 5-12 achieve fluency in English in as little as three years.
Through this initiative, SCIL will acquire BrainMaps to further accelerate growth in the large and rapidly expanding English language learning market in China. While the LOI is non-binding, both parties are working in good faith to finalize definitive agreements in the coming weeks.
SCIL has engaged Tyton Partners, the leading provider of investment banking and strategy consulting services to the global knowledge sector, as its exclusive investment banking advisor to assist with the transaction.
The proposed acquisition is contingent upon finalization of definitive transaction agreements, completion of financing transactions to obtain the capital required to acquire and expand BrainMaps, and board of director and shareholder approval, among other conditions.