Acadient Receives Funding, Names New Chief Executive Officer.Business Editors BOSTON--(BUSINESS WIRE)--June 16, 2003 CP Baker & Company Finances Boston-based Acadient to Fuel Continued Growth for Developer and Distributor of Online Education; Ronald C. Pruett, Jr. Named CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Acadient, a leading developer and distributor of online education, has announced it has received funding from CP Baker & Company, Ltd, a Boston-based investment company, and Anasazi Partners II, a Boston-based Private Equity Fund. The amount and terms of funding were not disclosed. The capital will be used to fuel continued sales growth and ongoing technology development efforts, allowing Acadient to broaden its product portfolio in the e-learning market and continue adding clients to its Fortune 500 customer base. Acadient develops, hosts, and manages e-learning courseware, Web casts, and private-label online universities for organizations worldwide. The company's clients include many of the world's leading financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. organizations. In addition, Acadient's knowledge partners include Boston University Boston University, at Boston, Mass.; coeducational; founded 1839, chartered 1869, first baccalaureate granted 1871. It is composed of 16 schools and colleges. , Pearson Education Pearson Education is an international publisher of textbooks and other educational material, such as multimedia learning tools. Pearson Education is part of Pearson PLC. It is headquartered in Upper Saddle River, New Jersey. , The National Underwriter Company and the National Investment Company Services Association (NICSA NICSA National Investment Company Service Association ). "Overall corporate training and education represented a $54 billion business in 2002 and IDC projects that the corporate e-learning market is expected to grow to $17.7 billion by 2005," said Greg Titus, president and co-founder of Acadient. "We are very pleased to partner with CP Baker & Company to further extend our footprint in this fast-growing market opportunity." "Acadient is currently a leader in this industry with brand-named clientele, but the growth possibilities are endless," said Christopher P. Baker, chairman of the board, CP Baker & Company. "Our investment recognizes that more companies and organizations are training their employees via e-learning as it's a cost-effective and convenient way to learn." In addition, Acadient's Board of Directors named Ronald C. Pruett, Jr. as chief executive officer. Pruett has extensive experience in the creation, acquisition, and management of global insurance and Internet ventures financed by leading organizations such as American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. (AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group ), Liberty Mutual Group, Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Dean Witter Dean Witter may refer to:
Prior to joining Acadient, Pruett founded Boston Associates, an investment and consulting company that works with emerging companies in the insurance and financial services industries. Before launching Boston Associates, Pruett was a founding executive and vice president of Corporate/Business Development at Insurance.com, an online distributor of consumer insurance funded with $30 million from Fidelity Investments. "Ron's leadership will play a vital role in growing the company," said Baker. "With his addition, the core Acadient team has more than 150 years of combined e-learning, technology, and sales experience and is positioned to be a force in the online learning industry." About Acadient Based in Boston, Acadient is a leading developer and distributor of multimedia, interactive education for financial services and other industries. The company develops, hosts, and manages e-learning courseware, Web casts, and private-label online universities for industry organizations worldwide. The company's team of technology and instructional design experts provide customized courseware for personalized e-learning solutions. Acadient partners with premier industry and academic organizations including the National Investment Services Company Association, the Center for Fiduciary Studies and Boston University. Visit www.acadient.com for more information. About CP Baker & Co. CP Baker & Co., Ltd is a Boston-based investment company that provides small to medium-sized companies value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. management consulting and corporate finance services to maximize shareholder equity. Clients include companies in the nutritional foods, general merchandise, e-learning and financial services industries. CP Baker & Co. is located at 303 Congress Street, Suite 301, Boston, MA 02210. |
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