Lightspans Academic Systems Expands into Billion Dollar Market
Academic Systems, the higher education division of Lightspan, Inc. and a leading provider of interactive multimedia instructional programs for college students, is accelerating its expansion into the high school market. The instructional technology sector is valued at $2.5 billion according to Market Data Retrieval.
Additionally, the company has appointed Kim Price as vice president of channel sales, providing immediate acceleration of channel development within the high school market.
Our goal is to bring our products and services to entirely new markets, starting with high schools, where Academic Systems has already experienced growth, said Lightspan CEO John Kernan. By appointing Kim Price, a leader in channel sales in education, we demonstrate our firm commitment to extend the use of our materials to additional constituencies, providing large opportunities for growth within new sectors.
As director of channel sales for The Learning Company, Price took the company into previously uncharted channels including distribution sales, the traditional reseller market, solution-focused reseller market, and specialty sales and OEM totaling $20 million in sales. Before The Learning Company, she also held sales roles at Creative Wonders and Broderbund Software.
Within the education software industry, Kim is a recognized leader with a significant knowledge and skills base in working alternative sales channels, said Jim Dredge, CEO of Academic Systems. Kim will be a critical leader in our growth into niche markets and we welcome her to the team.
Im excited to bring my unique channel experience to Academic Systems and to take the companys proven product line into the high school market and beyond, Price said.
High schools are looking for innovative and effective ways to teach algebra and other mathematics courses, as colleges are increasingly recommending, and in some cases requiring, students to take more math courses in high school. Academic Systems award-winning instructional materials have already been proven effective in high school implementations nationwide, including through initiatives between community colleges and high schools. The Ivy Tech State College System in Indiana, for example, uses the companys Interactive Mathematics materials in an extensive outreach program to five local high schools.
Academic Systems has enabled us to reach out to high school students through an innovative program that brings the multimedia instructional materials into high school learning centers, said Rod Rich, executive assistant for Ivy Techs Secondary Education Initiative. Through this program, weve given students powerful new ways to meet their learning style needs and, in the process, given them a chance to find real academic success.
About Academic Systems
Academic Systems Corporation, the higher education division of Lightspan, Inc. (NASDAQ:LSPN), has focused on meeting the needs of higher education faculty and students since it was founded in 1992. The companys interactive, multimedia instructional programs, Interactive Mathematics and Interactive English, offer an enhanced learning environment for college students in developmental and entry-level courses. Created in concert with educators, Academic Systems networked courses have demonstrated increases in learning and achievement; the programs have been used by more than 300,000 students. In addition, academic.com, Academic Systems new Web-based product, offers a comprehensive online content library for targeted skill development across many disciplines. For more information contact Academic Systems Corporation at 800-694-6850, or visit the Web site at www.academic.com.
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements, including statements related to future financial performance and business trends, that are subject to risks and uncertainties, including, but not limited to,
changes in economic conditions in the Company’s market areas; changes in policies by regulatory agencies and educational organizations; the volatility of the Company’s expenses and operating results; market acceptance of the Company’s curriculum based software and Internet products; management of rapid growth; risks associated with expanding the Company’s Internet business; changes in funding for public schools; technological advances and risks related thereto and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause the Company’s actual results for 2002 and beyond to differ materially from those expressed in any forward looking statements by, or on behalf of, the Company.
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