CLPS Incorporation Acquires College Of Allied Educators In Singapore, Bolstering TCP And TDP Strategy; No Financial Terms Disclosed

CLPS Incorporation (the "Company" or "CLPS") (NASDAQ:CLPS), today announced that, through its wholly-owned subsidiary CLPS Technology (Singapore) Pte. Ltd., it has acquired 100% of the equity of College of Allied Educators Pte. Ltd. ("CAE"), a Singapore-based learning institution. This significant milestone marks a new phase in CLPS's Talent Creation Program ("TCP") and Talent Development Program ("TDP") strategy.

Established in 2004 and strategically located in the heart of Singapore's Central Business District, CAE has earned an outstanding reputation with its registration in the Committee for Private Education ("CPE") and certifications from professional organizations such as EduTrust, the Singapore Association for Counselling, and the International Registry of Counsellor Education Programs, among others.

CLPS, dedicated to the concept of "creating talents" since its inception, has been particularly focused on discovering and nurturing of IT talents. In 2018, it established CLPS Academy, fostering the deep integration of education and the corporate world through collaborations with universities worldwide. CLPS Academy's core mission is to cultivate highly skilled IT professionals equipped with hands-on experience, innovative thinking, and teamwork skills.

This strategic acquisition presents a win-win scenario for both entities. CLPS will leverage its extensive background in education and training to provide comprehensive resource support to CAE, encompassing faculty input, IT-related course offerings, and internship opportunities, among other initiatives. This collaborative effort aims to develop skilled bilingual talents, directly contributing to CLPS's business expansion goals.

Mr. Raymond Lin, Chief Executive Officer of CLPS, said: "The acquisition of CAE marks a major leap in CLPS's mission to empower the future workforce. By merging CAE's established platform with our decade-long academic expertise, in collaboration with our educational institution partners, we will create a diverse educational landscape for students. Simultaneously, we will enhance CAE's curriculum by offering IT-related programs, providing internship and job opportunities for the graduates, as well as creating a training ground for the professional advancement of our employees. We believe that the acquisition will enable us to efficiently implement TCP and TDP strategies, resulting in CAE students gaining tailored career pathways, allowing our company to foster a highly skilled talent pool, and ultimately, leading to our clients receiving even higher-quality deliverables that can generate long-term benefits and value for CLPS."