Acquisition of LearningPlanet.com Strengthens Lightspan's Online Content for Students.Business Editors & High Tech Writers SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif.--(BUSINESS WIRE)--June 1, 2000 Lightspan Gains Proprietary Game Engines and Quality Instructional, Curriculum-Based Educational Content Lightspan, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :LSPN), a provider of curriculum-based, educational software and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the products and services for school and home, announced today that it has acquired LearningPlanet.com, a popular education Web destination for kids and their parents. The acquisition will augment aug·ment v. aug·ment·ed, aug·ment·ing, aug·ments v.tr. 1. To make (something already developed or well under way) greater, as in size, extent, or quantity: the extensive collection of preschool through high school curriculum-based learning activities already available in Lightspan's Internet products and services. LearningPlanet.com (www.learningplanet.com) features creative and instructional learning activities that help kids learn mathematics and language arts language arts pl.n. The subjects, including reading, spelling, and composition, aimed at developing reading and writing skills, usually taught in elementary and secondary school. . Launched in June June: see month. , 1999, LearningPlanet.com has focused on creating activities for kids that are both entertaining and educational. The transaction was structured as an asset purchase, with Lightspan acquiring the LearningPlanet.com Web site and related technology and assets in exchange for up to $450,000 in Lightspan common stock and cash. "LearningPlanet.com is a fabulous addition to our existing array of online, curriculum-based content for kids," said Winnie Wechsler, executive vice president and general manager of Lightspan's Internet and broadband services See broadband and broadband service provider. . "LearningPlanet.com has already attracted a loyal group of users at school and home, and its content will be a perfect fit for Lightspan.com, our K-12 portal, as well as for The Lightspan Network, our K-8 subscription service for schools." Michael Schipper, founder of Dallas-based LearningPlanet.com, will join Lightspan and oversee the design and development of Lightspan's online learning activities. Prior to founding LearningPlanet.com, Schipper was previously the Director of New Product Development at Jostens Learning, Inc. He brings his expertise in curriculum development, game design, and game programming to Lightspan. To learn more about LearningPlanet.com, please visit www.learningplanet.com. About Lightspan, Inc. Lightspan, Inc. (NASDAQ:LSPN), provides curriculum-based, educational software and Internet products and services used in school and at home. Lightspan's technology, delivery systems, and content help increase student interest in learning; parental involvement in their children's education; and productive interaction among teachers, parents, and students. Lightspan's products include Lightspan Achieve Now, an interactive curriculum program for K-8 students; curriculum programs for college students offered through Lightspan's higher-education group, Academic Systems Corporation; and an integrated family of K-12 Internet products and services offered through Lightspan's Web site, Lightspan.com. Statements in this press release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve a high degree of risk and uncertainty and are predictions only; actual events or results may differ materially from those projected in such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Factors that could cause or contribute to differences include risks associated with consummating the proposed merger and satisfying the various conditions to its occurrence, risks associated with integration of the two companies, volatility of the Company's expenses and operating results, market acceptance of the Company's curriculum-based software and Internet products, management of growth, risks associated with expanding the Company's Internet business and subscriptions services, changes in funding for public schools, technological advances and risks related thereto there·to adv. 1. To that, this, or it. 2. Archaic In addition to that; furthermore. thereto Adverb Formal 1. to that or it 2. , and risks associated with the Company's rapid growth. These factors and others are more fully described under "Risk Factors" in the Final Prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. included in Lightspan, Inc.'s Annual Report filed on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. as filed with the Securities and Exchange Commission. |
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