Mergers & Acquisitions ·
Skillful Craftsman agrees to acquire 70% stake in URAY for 500,000 shares
EDTKSkillful Craftsman Education Technology Ltd
Skillful Craftsman Education Technology Limited entered into a Share Purchase Agreement on October 10, 2026, to acquire a 70% controlling interest in Singapore-based casual game developer and publisher URAY PTE. LTD. The company will issue 500,000 restricted ordinary shares to the seller, Liu Qingwu, with restrictions lapsing after one year. An additional performance earn-out pool of 2,500,000 shares is established for URAY's management based on revenue and EBITDA targets over three years. The company will also provide up to US$2 million in unsecured shareholder loans. Closing is expected in the fourth quarter of 2026, subject to customary conditions including Nasdaq approvals. Skillful Craftsman Education Technology Limited specializes in educational technology innovation, artificial intelligence skills training, and digital transformation for educational institutions.