CBT Group Acquires Scholars.com; Internet-Based Training Leader Complements CBT Group's Portfolio of Training Services.MENLO PARK Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.--(BUSINESS WIRE)--Sept. 3, 1997--CBT Group PLC today announced that it has acquired scholars.com, a pioneering leader in Internet-based training, offering the services of online mentors as a resource for students taking CBT (Computer-Based Training) Using the computer for training and instruction. CBT programs are called "courseware" and provide interactive training sessions for all disciplines. courseware to help them pass vendor certification exams. Financial terms of the acquisition were not disclosed. Scholars.com, based in New Brunswick New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. , Canada, focuses on integrating Internet technologies with proven learning methodologies to deliver Internet-based, certification-level mentoring services to students worldwide. The company pairs CBT Systems' Microsoft- and Novell-approved interactive courseware Interactive CourseWare - (ICW) A training program controlled by a computer that relies on trainee input to determine the order and pace of instruction delivery. The trainee advances through the sequence of instructional events by making decisions and selections. with a team of vendor-certified mentors, known as Learning Advisors, to provide flexible, self-paced study via the Internet. Its learning model extends the advantages of online learning by having Learning Advisors available to students 12 hours a day, seven days a week. This methodology enables students to receive personalized assistance as they need it through online chats, email and newsgroups This is a list of newsgroups that are significant for their popularity or their position in Usenet history. As of October 2002, there are about 100,000 Usenet newsgroups, of which approximately a fifth are active. . "Scholars.com has dramatically advanced the dynamics of learning with its innovative approach to Internet-based training," said James J. Buckley, CBT Systems (CBT Systems, Menlo Park, CA) An acknowledged leader in the design and development of interactive education software for information technology training. Specializing in self-study courses that users can take at their own PCs, CBT developed a library of more than 600 titles for president and 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. . "As an acknowledged market leader in online training, scholars.com has established a progressive and successful business model, which is the result of its vision to offer convenient, high-quality, low-cost training solutions via the Internet. The mentoring services provided by scholars.com are highly complementary to CBT Systems' strategy to deliver to our customers the most complete and comprehensive learning environment available." Scholars.com was founded in 1995 by Ben Watson, who participated in the Microsoft pilot program that became the Microsoft Online Institute (MOLI), a web-based technical training service. Scholars.com, a Microsoft Authorized Training and Education Center (ATEC ATEC Army Test and Evaluation Command (US Army; formerly OPTEC, Operational Test & Evaluation Command) ATEC Australian Tourism Export Council ATEC Advanced Technologies (Hamburg, Germany) ), currently is the largest MOLI training provider and supports a range of Microsoft certification programs. The company expanded its offerings earlier this year to support Novell certification programs. Watson will continue to lead the scholars.com business as general manager. "We believe that there is a significant market opportunity for providers of online training," Buckley added. "As the need for qualified and certified information technology professionals continues to grow, we fully expect that more and more people will turn to the Internet for training that is current, cost-effective, and accessible worldwide. Scholars.com adds significant value to Internet-based training with its focus on comprehensive content and personalized quality coaching." The acquisition will be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . CBT will report a one-time charge in the third quarter of 1997 for professional fees and other expenses associated with the acquisition. CBT Group PLC (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 :CBTSY) is a leading provider of interactive education software designed to meet the information technology training needs of businesses and organizations worldwide. The company develops, publishes and markets a comprehensive library of 433 software titles, covering a range of client-server, Internet, and corporate intranet technologies. CBT Systems' products are used by more than 1,350 of the world's leading corporations to train employees to develop and apply mission-critical technologies in the workplace. The company works with leading software companies, including Cisco, Informix, Lotus, Marimba marimba: see xylophone. marimba Xylophone with resonators under each bar. The original African instrument uses tuned calabash resonators. In Mexico and Central America, where it was brought by African slaves, the wooden bars may be affixed to a , Microsoft, Netscape, Novell, Oracle, Powersoft, SAP, and the IBM-Netscape-Sun Microsystems Java consortium to develop and market vendor-specific training. For information on CBT Systems products, call (800) 387-0932, fax (650) 614-5901, or send an email to salesinfo@cbtsys.com. CBT Systems is located on the World Wide Web at http://www.cbtsys.com . For more information about scholars.com visit http://www.scholars.com, or send email to admin@scholars.com. -0- CBT Systems and the CBT Systems logo are trademarks of CBT Group PLC. All other company and product names may be trademarks of the respective companies with which they are associated. CONTACT: CBT Systems Ltd. Cindy McCaffrey, 650/614-5962 cindy_mccaffrey@cbtsys.com |
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