Rosetta Stone Inc. is to acquire Tell Me More S.A., a language learning software company with a significant presence in Europe, Latin America, China and the U.S., for $28 million.
Tell Me More gets about 95 percent of its business from corporate and higher education customers. Rosetta Stone says the acquisition will increase its corporate and education business to more than $100 million a year.
It also gives Rosetta Stone its first foothold in China. Rosetta Stone says the acquisition will add $25 million to $27 million to sales in 2014. It will be Rosetta Stone’s third large acquisition in the last year. This summer, it acquired Lexia Learning Systems Inc. for $22.5 million. In April, it acquired cloud services company LiveMocha for $8.5 million.
The Tell Me More acquisition is expected to close in January.
About: Rosetta Stone Inc. provides cutting-edge interactive technology that is changing the way the world learns. The company’s proprietary language-learning techniques—acclaimed for their power to unlock the natural language-learning ability in everyone—are used by schools, businesses, government organizations and millions of individuals around the world. Rosetta Stone offers courses in 30 languages, from the most commonly spoken. The company was founded in 1992 on the core beliefs that learning to speak a language should be a natural and instinctive process, and that interactive technology can activate the language immersion method powerfully for learners of any age.
Source: Bizjournals.com
