Cluey Ltd has agreed to acquire tutoring provider Art of Smart for up to $6.5 million, signaling its entry into the face-to-face education market. The acquisition of Education Futures Group, which owns Art of Smart, will integrate physical tutoring centres in New South Wales with Cluey’s existing digital learning platform. Cluey provides online tutoring services to students in Australia and New Zealand. Art of Smart offers tutoring and mentoring services, primarily in person.
The deal will be partly funded through a $4.5 million equity raising. This will be executed via a fully underwritten two-for-11 entitlement offer at $0.07 a share. Gleneagle Securities has been appointed as the lead manager and underwriter for the equity raising.
The acquisition aims to broaden Cluey’s service offerings. It extends the company’s reach across both online and physical learning environments. The combination of digital and in-person tutoring is expected to create a more comprehensive educational experience for students.
