Education technology group Schrole (ASX:SCL) has completed what it is calling a “transformational” alliance agreement with non-profit organisation International Schools Services (ISS), which will implement Schrole’s teacher recruitment technology across more than 250 international schools.
The alliance more than doubles the number of educational institutions using Schrole technology, with approximately 380 schools and an estimated 72,000 teachers using the platform in 113 countries.
The combined Schrole and ISS alliance is believed to be placed among the market leaders in international school recruitment.
Schrole managing director Rob Graham said the agreement substantially reshapes the global standing of company.
The Alliance is enabling us to collectively fast-track our growth in the international schools sector and will add hundreds of new international school clients, dramatically improving our market position.
“The launch of the new ISS-Schrole Advantage platform will transform our international school clients’ experience in recruiting staff.
“The enhanced product offering of the ISS-Schrole alliance has already generated first revenues from Schrole clients, demonstrating the strong market appeal of the alliance and further validating its strategic benefits,” he said.
The product will also be sold at a higher margin than Schrole’s original product, with the newly branded ISS-Schrole Advantage product being sold for prices as high as US$20,000.
Through the alliance, the school recruitment services will be sold to clients through a wholly-owned subsidiary of Schrole, with the net revenue to be split equally between the two groups.
The alliance is signed for an initial five-year period and is renewable for subsequent five-year terms.
The pair have already hit the ground running with first sales for the ISS-Schrole Advantage product already received.
Invoicing is set to accelerate with the completed platform set to launch in September this year.