ATA Announces Closing of Xing Wei Acquisition
BEIJING, Nov. 6, 2013
BEIJING, Nov.6, 2013 /PRNewswire-FirstCall/ -- ATA Inc. ("ATA" or the
"Company", Nasdaq: ATAI), a leading provider of advanced testing technologies
and testing-related services in China, today announced that, on October 31,
2013, it closed on the previously announced acquisition of Xing Wei Institute
(HK) Limited ("Xing Wei"), a private education technology company that
provides training solutions as well as online and mobile training platforms
for corporations in China, for US$3.19 million. ATA reported net revenues of
RMB366.7 million (US$59.0 million) for the fiscal year ended March 31, 2013.
About ATA Inc.
ATA is a leading provider of advanced testing technologies in China. The
Company offers comprehensive services for the creation and delivery of
assessments based on its proprietary testing technologies and test delivery
platform. ATA's testing technologies are used for professional licensure and
certification tests in various industries, including information technology
services, banking, teaching, securities, insurance, and accounting. As of June
30, 2013, ATA's test center network comprised 2,810 authorized test centers
located throughout China. The Company believes it has the largest test center
network of any commercial testing service provider in China.
ATA has delivered more than 50.0 million billable tests since ATA started
operations in 1999. For more information, please visit ATA's website at
Cautionary Note Regarding Forward-looking Statements
This announcement contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terms such as "believe," "could," "expect," "future," "look
forward to," "plan," "should," "will," and similar terms and include, among
other things, the future integration of Xing Wei's business with ATA's and the
potential effect of the Xing Wei acquisition on ATA's service offerings and
relationships with existing clients. These forward-looking statements involve
known and unknown risks and uncertainties and are based on current
expectations, assumptions, estimates, and projections about ATA, Xing Wei and
the markets in which they operate. The Company undertakes no obligation to
update forward-looking statements, except as may be required by law. The
Company cannot assure you that its expectations and assumptions will turn out
to be correct, and investors are cautioned that actual results may differ
materially from the anticipated results.
For more information on our company, please contact the following individuals:
At the Company Investor Relations
ATA Inc. The Equity Group Inc.
Lucy Ma, Associate, Investor Relations Carolyne Yu, Senior Associate
+86-10-6518-1122 x5517 415-568-2255
Adam Prior, Senior Vice President
SOURCE ATA Inc.
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