Press release
As we approach the end of 2023 and move into 2024, we want to provide existing and prospective shareholders with an operational update and a look ahead to 2024.
As most of you know, the company now goes by the name edyoutec. The main focus is on Edtech where we have already signed an agreement to acquire the educational app
We are facing exciting launches in Q1 2024 and I will discuss the following below with a more detailed explanation.
1) Launch of the education platform Rail Experience
2) Launch of Tank Operations together with the publisher 2tainment.
3) Launch of
4) Launch of
5) Launch of AppLeMat with publisher
6) Acquisition of a German developer of children's games and educational apps.
Rail Experience
Rail Experience is a digital training platform specifically designed for training locomotive drivers. The product is co-produced with Captrain - a leading European rail logistics company. Every year, about 4000 new railway officials are trained and in 2024, the target is for at least 600 students to use the platform and for the education provider to pay a monthly license fee of
Tank Operations
Tank Operations is a proprietary title (via our wholly owned subsidiary
We are facing an exciting start to 2024. Right now we are preparing
MAF has been ranked by the
The choice of MAF as publisher came after a long period of discussion and following the commitment and interest shown by MAF's publishing team.
source: https://www.ft.com/ft1000-2023 , https://www.statista.com/companies/o/25202524/myappfree-spa
The idea is that
The goal is to be able to price
The process of transforming
AppLeMat
AppLeMat is an educational platform (Android & iOS) for children with dyscalculia that aims to strengthen their ability to absorb mathematics. Through mini-games within the app, children can practice different mathematical skills. The level of difficulty of these mini-games adapts to the children's abilities. The project was commissioned by two prominent universities -
LOI - German developer of children's games and educational apps
About a week ago, we announced that we had signed a letter of intent regarding an acquisition. The letter of intent gives edyoutec an exclusive right to conduct due diligence in order to sign a definitive purchase agreement in early 2024.
The target company specializes in mobile game development, game design and digital education. The company has created a number of successful children's apps that have been downloaded over 18 million times worldwide.
The company has a team of 6 experienced game developers in its studio in
The studio has proven many times that it can deliver high quality content and is currently producing a subscription-based educational platform for children between 6 and 10 years old. The platform is aimed at parents and schools worldwide. In Q2 2024, the first subscription-based education package will be launched on both Apple and Android devices.
The app targets the STEM school subjects of science, technology, engineering and math. The app has shown promising results from its beta launch with a relatively low cost per download, resulting in favorable margins, and a high conversion rate in terms of monthly paying users.
The platform targets a global market and the subscription model is
Objectives - Summary
Our subsidiary group Wegesrand (ed-tech segment) continuously receives new assignments and is rewarded with prestigious appointments. I have mentioned it before and will mention it again - we will grow both organically and through acquisitions. Through acquisitions, we add strategically important platforms and revenue streams while our existing subsidiaries gradually move to a license-generating revenue model. We are looking at further acquisitions in 2024 while reviewing how we can maximize the platforms/titles that are now being rolled out, especially in Q1 and Q2 2024.
The edyoutec Group is currently an Edtech company with a number of game titles. The main focus is on Edtech and this is where we see strong future growth. We work actively to grow on the continent, but German-speaking countries are particularly close to us when we look at how the company will grow organically and through acquisitions.
In the early fall, we set a number of goals to achieve before the end of the year. I am pleased to say that all of them have been reached.
♦ We expected our German subsidiaries to win new contracts and thus continue to grow.
♦ We would transform our German subsidiaries to create license-generating revenue.
♦ We would sign a publishing agreement for
♦ We would sign a publishing agreement for Tank Operations.
♦ We would redeem the existing loan and reduce the loan amount by 50%
♦ We would change our name and focus to become an Edtech company.
♦ We would sign at least one LOI for business acquisition.
♦ We would acquire a Swedish IP (
I can proudly look back on 2023 as a productive year where we nailed all our goals. We now put 2023 behind us and note that the hard work on cost savings and synergies throughout the Group has been substantially completed. New processes and streamlined operations are in place at our German subsidiaries and we see a positive spirit for everything that will happen in 2024. New exciting apps/platforms will be launched, game titles will be launched to the broad masses, exciting companies will be acquired, and license-generating revenue streams will become an increasingly important part of the Group's business model.
With this operational update, I would like to wish all our existing and future shareholders a Merry Christmas and a Happy New Year!
For further information, please contact:
E-mail: eric@edyoutec.com
Phone: +46 70 780 52 00
About edyoutec
edyoutec is a Swedish company in games and digital education that consists of two verticals, EdTech and games. In the EdTech vertical, the company focuses on developing products in genres such as game-based learning and Serious Games, it is in these areas that edyoutec has identified the greatest synergies between the company's two verticals. In the Games vertical, the business concept is based on developing and distributing free-to-play ("F2P") mobile games for Android and iOS.
For more information, see edyoutec's website www.edyoutec.com
https://news.cision.com/edyoutec-ab/r/edyoutec---operational-update-december-2023,c3897501
https://mb.cision.com/Main/20666/3897501/2509291.pdf
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