Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

ARCO PLATFORM LIMITED

(ARCE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Arco Platform : receives antitrust approval and completes the acquisition of COC and Dom Bosco learning systems (Form 6-K)

10/01/2021 | 04:23pm EST

Arco receives antitrust approval and completes the acquisition of COC and Dom Bosco learning systems

São Paulo, Brazil, October 1, 2021 - Arco Platform Limited, or Arco (Nasdaq: ARCE), today announced that it received, on September 30, 2021, final antitrust approval from Brazil's Administrative Council for Economic Defense - CADE, with no conditions, in connection with its previously announced acquisition of COC and Dom Bosco learning systems, which it has now completed.

The payment terms set forth in the purchase agreement were updated upon closing of the transaction to a total purchase price of R$800.4 million, adjusted for COC's and Dom Bosco's cash and working capital positions as of September 30, 2021, paid in a single installment on the transaction closing date.

The acquisition of COC and Dom Bosco consolidates Arco's leading position in core solutions for the private K-12 segment by diversifying the pricing and geographic reach of its existing portfolio, while allowing Arco to unlock additional opportunities to cross-sell supplemental products and upsell within existing partner schools.

The incorporation of COC and Dom Bosco into Companhia Brasileira de Educação e Sistema de Ensino S.A., Arco's subsidiary incorporating the acquired businesses, is expected to be concluded in the first quarter of 2022.

About Arco Platform Limited (Nasdaq: ARCE)

Arco has empowered hundreds of thousands of students to rewrite their futures through education. Our data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content, and high-quality pedagogical services allow students to personalize their learning experience while enabling schools to thrive.

Forward-Looking Statements

This press release contains forward-looking statements as pertains to Arco within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Arco's expectations or predictions of future financial or business performance conditions. The achievement or success of the matters covered by statements herein involves substantial known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, Arco's results could differ materially from the results expressed or implied by the statements it makes. You should not rely upon

forward-looking statements as predictions of future events. Forward looking statements are made on the basis of Arco's current expectations and projections relating to its financial conditions, result of operations, plans, objectives, future performance and business, and these statements are not guarantees of future performance.

Statements which herein address activities, events, conditions or developments that Arco expects, believes or anticipates will or may occur in the future are forward-looking statements. You can generally identify forward-looking statements by the use of forward looking terminology such as "anticipate," "believe," "can," "continue," "could," "estimate," "evaluate," "expect," "explore," "forecast," "guidance," "intend," "likely," "may," "might," "outlook," "plan," "potential," "predict," "probable," "project," "seek," "should," "view," or "will," or the negative thereof or other variations thereon or comparable terminology. Moreover, all statements in this press release, whether forward looking or of historical fact, are based on the limited information available to Arco during the due diligence process of COC, Dom Bosco and its business operations (the "COC and Dom Bosco Businesses") prior to the signing of the Purchase Agreement discussed herein. This limited access to information may have impaired Arco's ability to conduct a full and comprehensive assessment of the COC and Dom Bosco Businesses, thus leading to risks and uncertainties. Reasons for this uncertainty include, but are not limited to, the following: (i) the analysis was conducted on the basis of pro forma, unaudited and adjusted financial statements of the COC and Dom Bosco Businesses; (ii) the accounting parameters and criteria adopted by the COC and Dom Bosco Businesses are different from the ones adopted by Arco; (iii) the transfer of the COC and Dom Bosco Businesses to a new entity limits Arco's ability to assess the proper transfer of all assets and rights to such new entity. In addition, the forward-looking statements regarding the COC and Dom Bosco Businesses include risks and uncertainties related to statements about competition for the combined business; restrictions and/or limitations on the acquisition of the COC and Dom Bosco Businesses that may be imposed by antitrust authorities or other regulatory agencies; risks relating to Arco's ability to attract, upsell and retain customers of the COC and Dom Bosco Businesses; and general market, political, economic, and business conditions in Brazil or abroad.

Forward-looking statements represent Arco management's beliefs and assumptions only as of the date such statements are made, and Arco undertakes no obligation to update any forward-looking statements made in this presentation to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

Further information on these and other factors that could affect Arco's financial results is included in filings Arco makes with the Securities and Exchange Commission from time to time, including the section titled "Risk Factors" in Arco's most recent Forms 20-F and 6-K. These documents are available on the SEC Filings section of the Investor Relations section of Arco's website at: https://investor.arcoplatform.com/

Investor Relations Contact

Arco Platform Limited

IR@arcoeducacao.com.br

Disclaimer

Arco Platform Ltd. published this content on 01 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2021 20:22:01 UTC.


© Publicnow 2021
All news about ARCO PLATFORM LIMITED
11/29MT NEWSWIRES AFTER HOURS WATCH LIST : Cpix, adag, arce
MT
11/29ARCO PLATFORM : Unaudited interim condensed consolidated financial statements - Form 6-K
PU
11/29Arco Platform Swings to Q3 Adjusted Net Loss, Net Revenue Declines -- Shares Drop After..
MT
11/29ARCO PLATFORM : Reports Third Quarter 2021 Results - Form 6-K
PU
11/29Earnings Flash (ARCE) ARCO PLATFORM LIMITED Reports Q3 Revenue BRL183.3M
MT
11/29Arco Reports Third Quarter 2021 Results
BU
11/18Arco Platform to Receive a $150 Million Investment from Dragoneer, General Atlantic
MT
11/18Arco to Get $150 Million Investment From Dragoneer, General Atlantic
DJ
11/18ARCO PLATFORM : announces a US$150 million investment from Dragoneer and General Atlantic ..
PU
11/18Arco Announces a US$150 Million Investment from Dragoneer and General Atlantic
BU
More news
Analyst Recommendations on ARCO PLATFORM LIMITED
More recommendations
Financials
Sales 2021 1 148 M 205 M 205 M
Net income 2021 123 M 21,9 M 21,9 M
Net Debt 2021 1 409 M 251 M 251 M
P/E ratio 2021 40,3x
Yield 2021 -
Capitalization 6 237 M 1 113 M 1 113 M
EV / Sales 2021 6,66x
EV / Sales 2022 4,74x
Nbr of Employees 2 746
Free-Float 51,3%
Chart ARCO PLATFORM LIMITED
Duration : Period :
Arco Platform Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ARCO PLATFORM LIMITED
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 109,49 BRL
Average target price 190,18 BRL
Spread / Average Target 73,7%
EPS Revisions
Managers and Directors
Ari de Sá Cavalcante Neto Chief Executive Officer & Director
Roberto Otero Chief Financial Officer
Oto Brasil de Sá Cavalcante Non-Executive Chairman
Pedro Guerra Chief Operating Officer
Martín Emiliano Escobari Lifchitz Independent Director
Sector and Competitors