A Miami-based firm that served as the vendor for the first year of Arkansas' Education Freedom Accounts is once again poised to win a multimillion-dollar contract to operate the online platform, according to the state Department of Transformation and Shared Services.

Kleo Inc., which does business as ClassWallet, is the anticipated awardee of the contract with a projected seven-year cost of $13,996,250 that will come before the Arkansas Legislative Council's Review Subcommittee on Thursday. The initial deal would begin Dec. 1 and end Nov. 30, 2028, according to the Transformation and Shared Services Department.

State Department of Education spokeswoman Kimberly Mundell said in an email that the proposed contract "ensures a seamless transfer to a new portal, and there will not be any disruption of services."

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