Learn2 Corporation Sells e-learning Assets to Learn.com
Learn.com has developed and markets LearnCenter(TM) a robust, flexible AICC and SCORM compliant Learning Management System and expects to integrate Learn2’s patented technologies and content to provide a complete end-to-end
e-learning solution.
Under the agreement, Learn2 has received an upfront payment of $325,000 and could receive as much as $3.7 million under an earnout over the next sixty months. In addition, Learn.com will offer employment to many of Learn2’s
e-learning employees.
“We have been examining strategic options for the Company and believe that by exiting the e-learning business and combining Learn2’s courseware and product line with Learn.com’s LearnCenter Learning Management System we will
achieve the best overall result for our shareholders, customers and employees.
Going forward, we will focus our efforts on our existing permission email marketing business, Etracks,” said Robert “Bo” Ewald, Executive Chairman of the Board of Directors of Learn2.
Learn2 will change the name of the Company within the next thirty days.
About Etracks:
Etracks.com Inc., a subsidiary of Learn2 Corporation provides permission-based email marketing solutions and services that allow its clients to build customer relationships and make real-time business decisions based on
campaign results. Etracks’ services include: campaign strategy, creative development, customized database management, message distribution, in-depth reporting capabilities and response analysis. Etracks is committed to
technological excellence and high service standards that result in secure, successful direct marketing email campaigns. Etracks’ tracking solutions provide marketing intelligence to clients by tracking and reporting conversion
rates of clients’ customers without requiring any modification to the clients’ website. Etracks’ clients include category-leading businesses in various industries including publishing, retail/e-tail, advertising and direct marketing. Founded in 1998, Etracks is headquartered in Belmont, California. For more information, visit http://www.etracks.com .
Forward-Looking Statements
This news release contains forward-looking statements, which involve risks and uncertainties. Accordingly, no assurance can be given that the actual events and results will not be materially different than the anticipated
results described in the forward-looking statements. The Company undertakes no obligation to publicly release the result of any revisions to these forward- looking statements, which may be made to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated event.
Address media inquiries of Learn.com to Chris Dardet, 561-477-3053, chris@dardetconsulting.com or JW Ray, 800-544-1023 ext. 141, jray@Learn.com.
Contact: Heather Palmer of Learn2 Corporation, +1-203-975-9602, ext. 543, or hpalmer@learn2.com.
