China’s Private Education Companies Extending Reach Abroad
Lunxum (Li Si Chen), listed on the Shenzhen stock market since 2009, made its first international acquisition by acquiring MentorX Corporation, a US based start-up established in 2015. The aim of this acquisition is to provide career opportunities for Chinese students who study overseas. MentorX’s services include career counseling, internships and job recommendations, and CV and interview preparation. Lunxum also acquired 360, an online student recruitment agent, to further bolster its portfolio. The acquisition of MentorX is seen as a vertical expansion of recruitment and post-overseas service provision for students. Last year, 51offer, another online recruitment company, acquired student.com, a UK-based company which provides accommodation assistance for students studying in the UK, with the aim of offering more revenue generating services beyond the traditional students’ agency services.