Having first been announced in July, the takeover of Promethean by China’s NetDragon has been unconditionally accepted (China’s NetDragon Launches Promethean Bid).
NetDragon, through subsidiary Digital Train, will pay £84.1 million ($130 million) for UK-based Promethean, which operates in the education market. The acquired shares represent a 96% stake in the company.
Promethean’s chairman, Philip Rowley, and non-executive directors (Graham Howe, Jackie Yeaney, Judy Verses and Lord Puttnam) have resigned as directors, with immediate effect.
