VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 3, 2014) -
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ACT360 Solutions Ltd. (the "Company" or "ACT360") (TSX VENTURE:AKM), a provider of Internet-based testing and international marketing programs for higher education, has announced that it has acquired a license to operate and monetize the websites www.learnhub.com and www.jumbotests.com. As part of the three-year exclusive license, ACT360 will pay an annual royalty calculated on revenue generated from the website assets to Savvica Inc, a subsidiary of Educomp Solutions Ltd., India's largest education company.
According to Vincent Wong, CEO of ACT360, "This transaction represents the first part of ACT360's strategy to achieve order of magnitude sales growth while minimizing dilution to shareholders during the Company's revenue realization stage. We seek synergistic assets that we can aggressively monetize via our proprietary international education marketing platform."
ACT360 will use the websites and associated social learning technology to scale its international student recruiting business which grew 161% in the 12 months to September 30, 2013. ACT360 will gain access to:
- 2.5 million registered users;
- Social learning network with integrated college search, test preparation, financial planning, and career planning tools;
- College directory database listing 5,873 institutions in the USA, Canada, UK, and India;
- Social media marketing and advertising platform that enhances ACT360's service offering to its higher education clients.
About ACT360 Solutions Ltd.
ACT360 Solutions helps colleges and universities qualify and recruit international students. We are committed to assisting students from South America, Europe, Africa, the Middle East, and Asia achieve their study abroad goals.
About Educomp Solutions Ltd.
Educomp Solutions Limited, founded in 1994 is a globally diversified education solutions provider and the largest education company in India. Educomp Solutions reaches out to over 34,500 schools and 22.8 million learners and educators across the world. Educomp Solutions is listed on the Bombay Stock Exchange and the National Stock Exchange in India.
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding revenue estimates and future plans and objectives of ACT360 Solutions Ltd. - are forward-looking statements that are subject to various risks and uncertainties. Forward-looking statements are based on current expectations and analyses, including the effects of anticipated product, service, and distribution changes and the potential benefits of such efforts and activities on the Company's results of operations in future periods. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
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