Vasta Platform Limited [NASDAQ: VSTA] has disclosed the purchase of Sociedade Educacional da Lagoa Ltda (SEL). Vasta has bought SEL for R$65.0 million through its fully-owned unit Somos Sistemas de Ensino S.A. Vasta is currently based in Brazil and is a prominent education firm.
SEL has gained a reputation as the provider of specialized and academic services to education platforms. Its services include the creation and enhancement of new content and the guidance of specialists plus the upkeep of these educational platforms.
SEL was established in 1997 and has provided its services to 441 schools, 272 thousand K-12 students, and nearly 503 thousand students in the secondary and continuing education segment either direct or indirect way.
VSTA predicted that the deal has a 2021E EV/EBITDA multiple of 7.6x. With this buying, VSTA takes another significant step towards providing a complete digital service to K-12 schools and reinforces its business relationships with key clients. VSTA is moving forward with the objective to assist private K-12 schools to be improved and more lucrative, helping their digital revolution.