Israeli startup company Codemonkey announced Tuesday that it has been sold to the Chinese giant TAL Education Group for an estimated $20 million.
Founded in 2013 by three software engineers and headquartered in the coastal city of Tel Aviv, Codemonkey developed programming games for children. It currently markets its products in Israel and the United States, as well as 10 other countries in Asia, Europe and South America.
Codemonkey has been active in the Israeli education system since 2014. In the past three years, over a quarter of a million students in Israel have used the system in more than 2,000 schools. Founded in 2003 and headquartered in Beijing, TAL Education Group is China's leading education-technology company with centers in 42 cities nationwide, serving 2.3 million students.
Source: China Daily