New Horizons Reports Acquisition of Certain Assets of Technology Training and Services Corporation and a New Exclusive Content Agreement with Career A
December 10, 2008 // Franchising.com // Conshohocken, PA, – New Horizons Worldwide, Inc. (OTC Bulletin Board: NEWH) today reported it has completed the acquisition of certain assets of Technology Training and Services Corporation and has entered into an exclusive content agreement with Career Academy.com Inc..
Technology Training and Services Corporation ("TTSC") – New Horizons purchased, for a combination of cash and an earn-out opportunity, certain equipment previously used by TTSC to provide e-Learning to New Horizons centers, and a library of secure, web-based course exercises for use with the delivery of computer training in New Horizons centers known as Knowledge Anytime Labs On Demand ("KNOWLEDGE ANYTIME LOD"). New Horizons also entered into a license agreement with an affiliate of TTSC that gives New Horizons the exclusive right to create future KNOWLEDGE ANYTIME LOD. KNOWLEDGE ANYTIME LOD offer an advantage to New Horizons centers due to their substantial cost and performance advantages over existing alternative classroom-based exercises. TTSC's fifteen employees joined New Horizons as of December 1, 2008.
Career Academy.com Inc. ("CA") – New Horizons has entered into an exclusive content agreement with CA for their library of video based learning content used in the New Horizons Mentored Learning classroom ("Mentored Learning"). New Horizons has developed new standards for future Mentored Learning content that will provide a more intuitive and interactive experience for students as compared to currently available video based learning. CA is currently the premier supplier of video based content to the New Horizons network. New Horizons intends to deploy a new proprietary Learning Management System ("NHLMS") in the first quarter of 2009, which will include both existing CA course titles, and new courses created by CA to meet our new standards, available exclusively via the NHLMS. Mark A. Miller, President and Chief Executive Officer of New Horizons, stated, "We are extremely pleased to announce both of these strategic initiatives as we finalize our planning for 2009."
"TTSC has been an outstanding business partner to the New Horizons network for many years, and this acquisition recommits New Horizons to the delivery of synchronous e-Learning content known as Online LIVE. Moreover, we believe the KNOWLEDGE ANYTIME LOD product that TTSC has developed will become an essential part of both the New Horizons instructor led classroom and Mentored Learning offerings. These KNOWLEDGE ANYTIME LOD are exclusive to the New Horizons network, and offer an enhanced experience for our students and real operational and economic advantages to our centers."
"CA has long been the principal Mentored Learning content provider to the New Horizons network, today serving 140 centers worldwide. Our decision to enter into an exclusive content arrangement with CA solidifies their current position, and will provide the full breath of existing CA content to New Horizons centers when the NHLMS is launched in the first quarter of 2009. CA shares our excitement over the next generation of Mentored Learning content, confirming New Horizons Mentored Learning as the premier computer training experience. Combining next generation Mentored Learning content and KNOWLEDGE ANYTIME LOD, delivered via the NHLMS, provides an unsurpassed student learning experience, and significant branding and operational efficiencies to New Horizons centers."
"Taking these two steps, working closely with long standing partners to the New Horizons network, enables us to take better advantage of next generation content and technological advances seamlessly and exclusively. We expect that this new exclusive offering will enable our centers to gain market share in 2009 and beyond."
About New Horizons Computer Learning Centers
With over 300 centers in 60 countries, Conshohocken, Pennsylvania-based New Horizons Worldwide, Inc. (OTC Bulletin Board: NEWH) is the world's largest independent IT training company. Through an integrated learning approach that ensures that new knowledge can be applied to real life situations, New Horizons delivers a full range of technology and business skills training from basic application and desktop productivity tools to complex and integrated business systems. New Horizons continues to expand its offerings, locations, and solutions to meet the growing demands placed on organizations and their employees.
Certain matters discussed in this press release are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and as such involve risks and uncertainties. Any statements about expectations, beliefs, plans, objectives, assumptions, future events or performance are not historical facts and are forward-looking statements. The forward-looking statements in this press release are based upon beliefs, assumptions and expectations of the Company's management as to the Company's future operations and economic performance, taking into account the information currently available and include comments regarding management's future outlook and financial performance of the Company. These statements are not statements of historical fact, and the Company's actual results may differ significantly from the results discussed in the forward-looking statements. Readers should not place undue reliance on these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of the Company or the benefits of the proposed transaction to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Many of the factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission.
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