Egypt Education Platform (EEP) – the fastest growing education service provider in Egypt – and the Egyptian Sovereign Wealth Fund (TSFE) announced on Sunday that they have entered into definitive agreements on October 6 to acquire a majority stake in Selah El-Telmeez (SET) – the famous K-12 education brand inherited from 60 years.
This brings together EEP’s unique education experience and Egypt’s leading K-12 educational content developer serving millions of Egyptian students.
“Our primary goal in this partnership is to capitalize on the existing wide array of technological advancements available around the world. With EEP, we have realized the potential to create diverse and engaging educational content to meet the advancement of important segments middle and low incomes in all 27 governorates of Egypt. All under the widely admired and trusted brand of SET with its competent management capabilities and progressive approaches of EEP,” said TSFE CEO Ayman Soliman.
“This investment complements TSFE’s education investment strategy aimed at providing a large segment of Egyptians with innovative and affordable educational solutions to help Egyptian students meet their learning challenges. The TSFE seeks to increase returns and create wealth for future generations along several axes, among which is the creation of sustainable returns through investments closely linked to Egypt’s priorities,” he added.
“SET is a 60-year-old legacy, iconic brand and gateway for Egyptian K-12 students to access valuable educational content and resources developed by a passionate community and team” said EEP CEO Ahmed Wahby.
“Together, we can transform the way students learn, and by students, we don’t just mean SET’s current student base, but students from different social classes across the country; deliver powerful educational content and leverage the latest digital learning technologies for both better engagement and more insight across all income segments.
EEP has experienced significant growth over the past three years, with its portfolio currently covering a broadly diverse pool of 18 national and international schools and preschools operating in Cairo and Alexandria under different brands, including GEMS, Hayah, Trillium and Petals. , which are home to over 11,000 students who will directly benefit from the higher education content and resources developed by SET to navigate their respective educational journeys.
“The integration of SET with EEP is clearly an important step for our platform which brings vast synergies as we aim to accelerate the digital transformation of the business to unlock new innovative learning solutions. We are fully committed to help SET achieve its full growth potential by integrating its ability to expand its footprint of educational content and learning resources, accelerating its EdTech journey by utilizing the vast experience offered by EEP’s academic leadership, combined with knowledge content unparalleled commentary from SET,” Wahby added.
“Today marks the start of an exciting new chapter for SET; one where we can accelerate our mission and help more students than ever to access our learning solutions,” said SET CEO Waleed Hamdy.
“As part of EEP, SET will deliver more value to students with a broader and more agile platform, supported by EEP’s highly dynamic, passionate and experienced team operating in a very well-governed structure. We are excited to embark on a journey with EEP that will undoubtedly transform the learning experience across the country with a greater focus on engaging digital content to lead this educational revolution.
With SET, EEP will be positioned to play a bigger role in driving digital transformation in education, enabling students to tap into the best content in the industry at different stages and bring out deeper insights. to make smarter decisions, drive smart, connected student experiences, and accelerate innovation.
White & Case acted as legal counsel to EEP in the acquisition of SET. During this time, Adsero acted as legal counsel to the TSFE and Al-Tamimi & Co represented the sellers.