EEP, Egypt Education Platform, Egypt’s fastest growing education service provider, and The Sovereign Fund of Egypt (TSFE) have announced entering into definitive agreements on 6 October to acquire a majority stake in Selah El-Telmeez (SET), the famous 60-year-old legacy K-12 education content developer.
This combines EEP’s distinct education offering experience with Egypt’s leading developer of K-12 education content, which serves millions of Egyptian students.
Commenting on the deal, Ayman Soliman, CEO of TSFE said “Our primary objective going into this partnership is to capitalize on the existing wide spectrum of globally available technological advancements. This investment complements TSFE’s Education Investment strategy to provide a wide segment of Egyptians with affordable innovative educational solutions that are intended to support Egyptian students against their learning challenges. TSFE seeks to increase returns and create wealth for future generations across several axes, among which is creating sustainable returns through investments that tie closely to Egypt’s priorities.”
Hamdy Mostafa founded Selah El Telmeez in 1960, and it has grown over the past 60 years to become an iconic learning guide for K-12 students, particularly in the primary grades, across various subjects.
“As a part of EEP, Selah El Telmeez will provide more value to students through a broader and more agile platform, backed up by EEP’s highly dynamic, passionate, and experienced team that operates within a highly well-governed structure.” “We are excited to embark on a journey with Egypt Education Platform that will, without a doubt, transform the learning experience across the country by putting a greater emphasis on engaging digital content to lead this educational revolution,” said Waleed Hamdy, CEO of Selah El Telmeez.
About Egypt Education Platform
While Egypt Education Platform (EEP) was founded in 2019 and is backed by a diverse group of regional and global investors including EFG Hermes and the Egyptian Sovereign Fund, the company has seen significant growth in the last three years. Its portfolio currently includes 18 national and international schools and pre-schools operating under various brand names in Cairo and Alexandria, including GEMS, Hayah, Trillium, and Petals, and housing over 11,000 students who will directly benefit from the superior education content and resources developed by SET to navigate their respective education journeys.
According to Ahmed Wahby, CEO of the EEP, SET is a 60-year-old legacy, an iconic brand, and a portal for Egyptian K 12 students to access highly valuable educational content and resources created by a dedicated community and team.
“Together, we can transform the way students learn, and by students, we don’t just mean SET’s current student body, but students across the country; delivering powerful educational content and leveraging the latest digital learning technologies for both better engagement and more insights across all income segments.” The integration of SET with the EEP is undoubtedly a significant milestone for our platform, bringing significant synergies as we aim to accelerate the company’s digital transformation to unlock new innovative learning solutions. We are fully committed to assisting SET in realizing its full growth potential by integrating its capacity to expand its footprint of education content and teaching resources, as well as accelerating its EdTech journey by leveraging the vast experience offered by the EEP’s academic leadership, combined with SET’s unparalleled content know-how,” Wahby added.
How EEP will Benefit from the Acquisition
The EEP will be better positioned to drive digital transformation in education with SET, allowing students to access the best in industry content at various stages and surface deeper insights to make smarter decisions, drive intelligent and connected student experiences, and accelerate innovation.
On the acquisition of SET, White & Case served as the EEP’s legal counsel. Meanwhile, Adsero served as the TSFE’s legal counsel, and Al-Tamimi & Co represented the sellers.