StockMarketWire.com - Career guidance and development platform Dev Clever said it had secured a partnership with Dubai-based organisation Aldebaron DMCC to bolster the company's international rollout plans.

Aldebaron is focused on the distribution, delivery and implementation of consumer facing technology and next generation impactful digital solutions into emerging markets across the world.

The partnership with Aldebaron will be the 'go to market eduction initiative' for the previously unnamed client announced on 3 February 2021, that is currently licensing Dev Clever's Edtech services.

'The tactical partnership will enable the Company to commit to a vastly accelerated global rollout plan across Asian territories, starting in India in partnership with NISA and then extending across Indonesia, Thailand, Singapore, Malaysia, Philippines and into the Middle East and Africa over the next three years,' the company said.

Aldebaron in conjunction with the client, would provide Dev Clever with the minimum revenue guarantees for the financial years ending 31 October including $5 million in FY21, $10 million in FY22, $15 million in FY23, and $20 million in FY24.

'[T]here is a rolling option to extend the Aldebaron partnership for an additional two years with a minimum additional commitment of US $20 million per annum in favour of Dev Clever,' it added.

In exchange, Aldebaron was granted the option to acquire 7 million Dev Clever shares at a nominal value and a warrant to subscribe for 60 million Dev Clever shares at a price of 60 pence per share, exercisable for a period of three years from the date of grant.

In a separate announcement, Dev Clever said it had entered into definitive heads of terms to acquire The Inspirational Learning Group Limited, an established UK-based educational business for £200,000 in cash and 6 million in new ordinary shares in Dev Clever.





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