Apax Partners Funds Invests in Promethean, a Global Education Technology Company.LONDON -- Promethean, a global education technology and interactive whiteboard An interactive whiteboard is a large interactive display that connects to a computer and projector. A projector projects the computer’s desktop onto the board’s surface, where users control the computer using a pen, finger or other device. specialist company, today announced a substantial minority investment by funds advised by Apax Partners, a leading private equity investment group. The company's interactive whiteboard solutions, which provide collaborative teaching solutions, are in 50,000 classrooms around the world. Promethean develops technology that allows teachers to interact with their students using multimedia content, pre-prepared class materials and Internet content. The British Government has earmarked GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 50m for interactive whiteboards in primary and secondary schools. Apax Partners Funds will help Promethean implement its plans for further global growth that includes an emphasis on the U.S. K-12 education market. Promethean's U.S. offices are based in Atlanta. Broadview International advised Promethean on the transaction, which results in a charitable trust The arrangement by which real or Personal Property given by one person is held by another to be used for the benefit of a class of persons or the general public. previously set up by Promethean's founder and chairman, Mr. H.A. Cann, realising value with the intention of sponsoring a multidisciplinary mul·ti·dis·ci·pli·nar·y adj. Of, relating to, or making use of several disciplines at once: a multidisciplinary approach to teaching. research institute for the improvement of productivity in teaching and learning, a City Academy in East Lancashire, England and support for the teaching and promotion of mathematics in the UK. Promethean Chief Executive, Stephen Jury, said: "This significant investment by Apax Partners Funds allows Promethean to take its classroom technology into other global markets and gives our founder's charity the opportunity to further develop its excellent work in the field of education. This marks an important landmark in Promethean's history as we prepare for the next stage of development, which will include expanding further internationally, including building on our position in the US." Salim Nathoo of Apax Partners said: "Promethean's technology is making a real difference to teachers, pupils, corporate and government users. The team has built a highly successful, profitable and rapidly growing technology company. We believe our investment will help take the company to its next phase of development in capturing this truly global market opportunity." Lloyds TSB Lloyds TSB Group plc (LSE: LLOY) is a banking and insurance group in the United Kingdom. It was formed in 1995 by the merger of Lloyds Bank and the Trustee Savings Bank (TSB). The Group's head office is at 25 Gresham Street, London. provided financing for the transaction. Terms of the transaction were not disclosed. About Promethean Promethean Technologies Group Ltd. specialises in group use of information technology to support learning and knowledge transfer. It is recognised globally as a leader in interactive technology solutions that revolutionise Verb 1. revolutionise - fill with revolutionary ideas revolutionize, inspire indoctrinate - teach doctrines to; teach uncritically; "The Moonies indoctrinate their disciples" 2. learning and works with a vision of developing the learning process into one that inspires and enriches people with a passion to positively transform lives. The group headquarters in Blackburn, UK, and it has overseas offices in the USA (Atlanta, Ga.), France and Germany. For the rest of the world, it works closely with over forty partners, providing interactive technology to every continent in the world. For further information, please visit http://www.prometheanworld.com About Apax Partners Apax Partners is one of the world's leading private equity investment groups, operating across Europe, Israel, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Japan. With over 30 years of direct investing experience, Apax Partners' Funds provide long-term equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. to entrepreneurs to build and strengthen world-class companies. It pursues a balanced equity portfolio strategy, investing in venture capital and buy-outs. Apax Partners Funds invest in companies across its 6 chosen global sectors of information technology, telecommunications, healthcare, media, 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. , retail and consumer. Some of Apax Partners' Funds recent technology and telecommunications investments include Dialog Semiconductor, DMR (Digital Media Receiver) See digital media hub. Consulting, Fractus, Frontier Silicon, Kabel Deutschland Kabel Deutschland is the largest cable company in Germany. Company Kabel Deutschland operates in 13 of the 16 states (i.e. all but Baden-Württemberg, North Rhine-Westphalia and Hesse). In 2006, of the 15.4 households passed by their cable the company served 9. , Inmarsat, Systemonic, Preventsys, Sonim Technologies and Wisair. For additional information, visit the web site at http://www.apax.com. |
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