EdtechReview.in recently reported on Riiid Inc., an artificial intelligence (AI) education technology company backed by Softbank Vision Fund, announcing the acquisition of Qualson Co Ltd., a leading English language learning and content provider based in South Korea. By gaining access to Qualson’s user base, content, and the English-as-a-second-language market through this acquisition, Riiid will be expanding its presence significantly in the Asian test prep space and be able to augment Qualson’s products in various ways.
Riiid, which started operations in 2014, uses AI to provide personalized learning and adaptive content delivery, and is known for their flagship product Santa TOEIC™, an app that assists students primarily in South Korea, Japan, and Taiwan in preparing for the Test of English for International Communication (TOEIC), and R.Test, a rapid diagnosis platform for the US market that assists students in assessing their expected performance on high stakes exams such as the ACT and SAT.
Qualson, which began operations in 2012, owns and operates a popular business-to-consumer (B2C) English learning platform, including its flagship Real Class™, well-known for teaching real-world, conversational English using high-quality content from international media companies. It has a diverse portfolio of language learning brands and is well-known in South Korea for collaborating with prominent public personalities to deliver premium Hollywood movie and TV show-based learning content. Users of Qualson’s products, including Real Class™, seek practical, daily English learning lessons and the ability to participate in live classes and watch video-on-demand (VOD) content.
With the acquisition, Qualson’s Chief Executive Officer, Sooyoung Park, will take on a more significant role within the combined business. Riiid will be able to incorporate their globally renowned AI technologies such as “knowledge tracing” and “content recommendation” into Qualson’s products. The acquisition is expected to close in the first quarter of 2024 and is subject to customary closing conditions.
This acquisition will be a great benefit to teachers looking for new ways to deliver English language learning to their students. With Riiid’s AI technology, teachers will be able to provide personalized learning experiences to their students, and Qualson’s content can be used to supplement the learning experience. As the use of AI in education continues to grow, this acquisition will no doubt be a major step forward for EdTech.
