Ibis Capital is to launch EdTechX Holdings, the world's first education technology special purpose acquisition company (SPAC), on Nasdaq, according to regulatory filings. EdTechX said it aimed to produce a next-generation platform using technology through the acquisition, consolidation and development of start-ups and companies working at the leading edge of the sector. The filing also said EdTechX would create an "alternative path to a traditional initial public offering". In its latest quarterly report, Ibis's chief executive, John Chambers, said: "The market for educational software has been growing rapidly over recent years as more students are taking online courses in subjects such as computer science,
Ibis Capital is to launch EdTechX Holdings, the world's first education technology special purpose acquisition company (SPAC), on Nasdaq, according to regulatory filings. EdTechX said it aimed to produce a next-generation platform using technology through the acquisition, consolidation and development of start-ups and companies working at the leading edge of the sector. The filing also said EdTechX would create an "alternative path to a traditional initial public offering". US private equity firms are increasingly using SPACs as alternative routes to traditional funds.