Click2learn to Acquire Intelliprep Technologies, Inc
BELLEVUE, WA – Click2learn (NASDAQ: CLKS) has entered into an agreement to acquire Bellevue, Wash.-based Intelliprep Technologies Inc., a provider of technology for personalized learning, for approximately $4 million in stock.
As part of the acquisition, Click2learn will integrate Intelliprep’s flagship product line, the iX Learning System, with its Ingenium Learning Management System and ReDS Content Development Platform. This new integrated learning system – expected to be the most complete and robust learning and content management system in the industry – will be available this summer.
Intelliprep’s iX Learning System is a scalable web platform based on an open, standards-based architecture that uses granular learning objects to deliver personalized and collaborative learning. The iX Learning System significantly enhances the learner’s experience with continually adapting courses, personal study aids, peer collaboration, knowledge exchanges that facilitate interactions with experts, and personal feedback. Detailed tracking of user progress, performance, and learning patterns result in comprehensive reports that quantify the clarity and effectiveness of the content and provide insights into improving the entire learning experience.
“Intelliprep has demonstrated a clear vision and leadership by creating and positioning a unique and innovative product in a crowded industry,” said Kevin Oakes, president and CEO of Click2learn.
“Combining the iX Learning System, with its personalization, collaboration, and tracking technologies, with the strengths of our Ingenium learning management system and ReDS content development platform, creates the most comprehensive and integrated learning platform in the industry today, well beyond what is being promised by the competition. In addition, Intelliprep’s management team and talented technical staff provide Click2learn with some of the top talent in the e-Learning industry, and will ensure that we continue our tradition of rapid innovation and technology leadership and dominate the market for integrated e-Learning solutions.”
Noted e-Learning expert and thought leader Elliott Masie feels the acquisition is a win for Click2learn, and signals a new era for e-Learning platforms. “Many organizations today are seeking flexible, integrated, open systems that span the full range of learning functions: from content development, to content management to learning management, delivered in a highly scalable, but highly personalized environment that connects them to their community.”
“Click2learn takes a step forward by integrating Intelliprep’s iX learning system with Click2learn’s core and wide ranging technology. The Masie Center believes this acquisition will enhance their capabilities to deliver complete solutions that are adhering to industry standards in an open architecture.”
Intelliprep was founded in 1999 by Microsoft (NASDAQ: MSFT ) alumni, each with many years of experience working on core Microsoft operating system and e-commerce technologies. Based on their experience in developing robust, enterprise-level, personalized technologies, they developed a platform for providing corporations with a scalable system for personalized learning experiences.
As a result of the merger, Sudheer Koneru, president and CEO of Intelliprep will become the Executive Vice President of Products and Strategy of Click2learn and Srinivas Chandrasekar, Chief Technology Officer of Intelliprep, will become Click2learn’s Senior Vice President of Technology. All key employees of Intelliprep will continue as employees of Click2learn.
“Our customers have been demanding complete solutions built on a flexible platform,” said Sudheer Koneru, president and CEO of Intelliprep. “The fit with Click2learn is tremendous – we not only combine the unique strengths of the iX platform with an established LMS and a collaborative authoring system to create the best platform in the market, but also deliver total end-to-end solutions based on the award-winning services organization that Click2learn brings to the table. This positions the combined entity to be the undisputed leader in e-Learning solutions, and is a great win for our customers.”
“The industry is very much in need of a scalable product that offers content development, personalized delivery, and management of on-line and class-room based courses in a single integrated platform,” said Chris Schuller, Director of Sales Learning and Readiness at Microsoft. “Intelliprep offers a personalized learning platform built on Microsoft Windows 2000, SQL 2000, Exchange 2000 that allows the agile delivery of eLearning to a world-wide audience; measuring the effectiveness in great detail. We are working with Intelliprep to deploy a foundational piece of our eLearning solution ensuring our sales force receives a rich learning content experience targeted at business results.”
Details of the product integration are expected to be unveiled within the quarter.
About Intelliprep
Intelliprep Technologies Inc., headquartered in Bellevue, Washington, develops technology for personalized learning. It’s iX Learning System sets a new standard for scaleable, personalized web-based learning. By building on industry standards like AICC,LRN, and SCORM, the iX Learning System’s open architecture is engineered for easy customization and integration with other systems. Intelliprep was founded in 1999 by Microsoft alumni. Members of Intelliprep team have helped architect, build and ship Windows 95, Windows 98, Windows NT, Windows 2000, MSN, Site Server and Microsoft Commercial Internet System (MCIS).
About Click2learn
Click2learn (NASDAQ: CLKS) is the leading integrated e-Learning solutions provider to Global 2000 organizations. The company provides comprehensive solutions that include content creation services and tools, integrated learning management and delivery systems, and e-Learning design and delivery expertise to improve workforce performance and commercialize intellectual property. Click2learn is headquartered in Bellevue, Washington, with offices in other U.S. cities, Europe and Japan. The company’s customers represent a wide variety of industries, and include Microsoft, Fidelity Investments, Wells Fargo, Morningstar, American Airlines, ADC Telecommunications, Deloitte and Touche and GE. For more information about Click2learn’s e-Learning solutions, call (800) 448-6543 or (425) 462-0501 or visit www.click2learn.com.
This announcement contains forward-looking statements that involve risks and uncertainties, including information contained in this document where statements are preceded by, followed by or include the words “believes,” “plans,” “intends,” “expects,” “anticipates” or similar expressions. For such statements, The Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include market acceptance of internet based training and the click2learn.com learning portal, the ability to successfully implement click2learn.com virtual universities and strategic relationships with content providers and other web-based companies, the ability of those relationships to result in increased users and increased revenues and the risk factors set forth in filings The Company has made with the SEC.
