Wave Entertainment Purchases WSE Thailand Master Franchise
15 May 2014
We are pleased to announce the sale of the Wall Street English Master Franchise in Thailand to Wave Entertainment Public Company LTD. The sale, which was completed in late April, was for Bt 800 million (24.5 million USD).
Wave Entertainment and their primary subsidiary companies are involved in a wide range of commercial activities in Thailand including producing and distributing television programs, managing office space, and developing renewable energy through solar power investments. The company purchased the Wall Street English Thailand Master Franchise as part of its plans to transform itself into a leading life-style and entertainment company within the next five years.
Wall Street English Thailand has been very successful since opening its first center in 2003. Last year they celebrated their 10th Anniversary and rebranded the organization to the Wall Street English identity. In March they opened their 11th center located in they city of Chiang Mai in northern Thailand.
The acquisition by Wave Entertainment is great for the Wall Street business. With their strong reputation, local community ties, and resources they will be able to grow the Wall Street English Thailand business and help meet the high demand for quality English language education in that country.