Surrey, British Columbia-based Pushfor Investments has agreed to acquire Education Revolution, a US-based provider of the Socrates Learning System, which develops individualised learning paths for students across thousands of educational categories.
Consideration for the deal is $1 million in cash, $2 million in shares in the company, and funding for operations, as needed, to operate, promote, and expand the Socrates Learning Engine. Pushfor will assume long-term debt of approximately $231,000 as part of the transaction.
Education Revolution’s president and chief executive Brian Rosenberg said: “With the Socrates solution, by increasing student engagement and interest, students feel more incentivised to succeed in their academic life. By providing immediate feedback to the student, frequent status and core competency issues to both parents and faculty, a more comprehensive list of the students’ needs are addressed.”
Michael Noonan, president and chief executive of Pushfor Investments, added: “Pushfor is extremely excited about Educational Resources and Socrates, which we believe will generate substantial synergies providing revenue, cash flow, and earnings growth.”
Date published: 9 September 2021