New Oriental, ATA form joint venture

Educational services provider New Oriental Education & Technology Group and ATA Inc, a Beijing-based provider of advanced testing technologies and testing-related services, have set up a joint venture to tap growth opportunities in the Chinese online and mobile education market and to train working professionals.

The new venture is expected to use New Oriental's existing Koolearn.com's online education and distribution channel to develop a new online education and training website, as well as mobile apps, catering to the workforce in China with an initial focus on the healthcare, accounting and finance industries.

ATA will invest 13.5 million yuan ($2.17 million), representing a 45 percent stake in the new cooperative venture, and New Oriental will invest 16.5 million yuan for a 55 percent stake.