ePals Corporation completes the acquisition of Carus Publishing Company

ePals Corporation has completed its previously reported acquisition of Carus Publishing Company.

Carus, which includes the Cricket Magazine Group, Cobblestone Publishing and Open Court Publishing, publishes 14 magazine titles covering all age groups (0 to 14+) on a variety of subjects (fiction, science, history, culture), hundreds of books and a growing collection of recognized Web and mobile applications.

The acquisition of Carus accelerates ePals’ entrance into the home subscription market by adding Carus’ subscriber base of more than 300,000 grandparents, parents and extended family members, as well as a broad array of publications for children across a variety of subjects. Carus also brings to ePals an experienced team of creative professionals and a unique library of high quality, leveled content for use throughout the ePals Global Community in building collaborative learning experiences for students around the world.

USA, Washington DC

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ePals to acquire Cricket Magazine Group, Cobblestone Publishing and Open Court Publishing

ePals Corporation is to acquire Carus Publishing Company in a combined cash and stock transaction. Carus Publishing Company includes the Cricket Magazine Group, Cobblestone Publishing and Open Court Publishing. Carus also publishes 14 magazine titles on a variety of subjects (fiction, science, history, culture), hundreds of books and a collection of Web and mobile applications.

The acquisition of Carus accelerates ePals’ entrance into the home subscription market by adding Carus’ subscriber base of more than 300,000 grandparents, parents and extended family members, as well as a broad array of publications for children across a variety of subjects.

Carus Publishing Company,  The acquisition will add to ePals:

  • significant gross revenue which in 2010 was approximately US$16 million with EBITDA of nearly US$1 million and a net loss of approximately US$270,000;
  • more than 300,000 consumer subscriptions (approximately 70% from grandparents) and approximately 80,000 institutional subscriptions;
  • customer relationships with an estimated 30% of US middle schools and 3800 libraries;
  • a recipient of 65 Parents’ Choice awards and more than half of all International Reading Association, Paul A. Witty awards ever given;
  • mobile applications, including Carus’ Ladybug App; and
  • a licensing business in China for three localised Chinese publications based on Carus content.

“Since public listing four months ago, we have focused on launching LearningSpace 2.0 to enable schools to build safe learning communities as part of their K-12 cloud solutions, announced integration of Microsoft Office365 and GoogleDocs into our learning communities so that teachers can let their students use state of the art tools in a safe and secure manner, and launched major initiatives to establish ePals China and ePals Europe,” said Miles Gilburne, Chairman and CEO of ePals.

USA, Washington, DC & Chicago, IL

ePals acquires Newstogram media personalisation platform

ePals Corporation, an education technology company and safe social learning network , has acquired the Newstogram platform and the DailyMe service business from Nexify, Inc.

The acquisition provides ePals with a robust technology platform for personalisation of quality media and learning applications, as well as enhancing its capability to match learners with each based on interests, across the ePals network of approximately 700,000 classrooms and millions of users in 200 countries. It will allow media publishers to create “educational” pages that highlight their content and add further breadth and depth to their offerings for family audiences.

The acquisition will also significantly extend ePals’ management capabilities in the rapidly expanding online educational media industry, adding Eduardo Hauser and Neil Budde as President and EVP, respectively, of ePals’ Media Division. Before founding Nexify, Hauser was EVP of Latin America for AOL and VP News and Information at Venevision. He is on the board of directors of NPR and the Knight Foundation’s Journalism Advisory Board. Neil Budde previously was the founding editor and publisher of The Wall Street Journal Online, and VP and Editor in Chief of Yahoo! News, Finance and Sports.

“In acquiring the assets of Nexify and bringing seasoned media veterans like Eduardo and Neil on board, ePals has gained the technology and expertise to better serve our users and partners as we continue to build out a powerful education platform that is unique to the space,” said Miles Gilburne, CEO of ePals. “We believe the dynamic personalization and matching capabilities that the Nexify platform has already delivered in general news publishing will have transformational qualities in educational publishing and adaptive learning, as users are matched with quality content and other learners to increase student, teacher and parent engagement and drive demonstrably better outcomes.”

USA, Herndon, VA