Ambow Education Holding Ltd. (NYSEAMERICAN:AMBO) stock is moving up in the opening session. The stock has been consolidating over the past few minths.
Major Trigger:
Ambow Education Inks Strategic Cooperation Agreement with Kylinsoft
Key Highlights:
- announced it has entered into a cooperation agreement (“Cooperation Agreement”) with Kylinsoft, a leading Chinese software developer. Pursuant to the Agreement, Ambow and Kylinsoft will join forces to enhance the cyberspace talents training system by designing training classes, offering career certification service, internship placement, employment service and co-founding industrial colleges, in a bid to foster an ecosystem of technologically advanced talent to meet the practical needs of national cyberspace development and ultimately boost the overall development of the Internet.
- As China accelerates efforts to improve infrastructure, the demand for IT innovation talent in the nation is steadily rising. As a pivotal software developer for the national plan, Kylinsoft takes the lead or participates in development, and drafts more than thirty technology standards spanning country-level, industry-level and alliance-level, building strong technology capabilities in cyberspace.
- In recent years, Ambow has been focusing on career certification service offerings and supporting the new engineering talents development. Therefore, leveraging Ambow’s ability to deliver mature education solutions for high schools and enterprises while building a talent ecosystem and offering comprehensive services, both parties will work together to provide a suite of career-oriented education services across a series of Kylinsoft operating system products.
Key Quote from
Dr. Jin Huang, President and Chief Executive Officer of Ambow, commented, “This strategic cooperation marks an important step toward advancing our nation’s homegrown cyberspace talent scheme. It is also an innovative, practical solution. As we move forward, we will combine our rich experience and advanced suite of solutions, products and services in career education and training space with Kylinsoft and its leading operating system technology capabilities to provide a comprehensive suite of talent training services across Kylinsoft series. We are committed to making a concerted effort to promote cyberspace talent growth initiatives and initiate a new chapter of talent cultivation in the sector.”
Market Reactions: Stock Moves Up
As of 12:25, AMBO stock gained by 3.65% at $2.27. Total volume so far stood at 1.73 million shares, compared to its average volume of 3.46 million shares. The stock moved within a range of 2.2200 – 2.4800 after opening at $2.41.
 Reaches Strategic Agreement){kind=link}