CBT Group Completes Two Acquisitions; CBT Adds Interactive Education Software Product Line for SAP Client/Server Systems and Distribution Organizations in Canada and Germany.SOUTH SAN FRANCISCO South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. , Calif.--(BUSINESS WIRE)--June 10, 1996--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) today announced the completion of two acquisitions that expand CBT's product offerings and further extend the company's geographic reach into two important foreign markets -- Canada and Germany. In the first acquisition, CBT (Computer-Based Training) Using the computer for training and instruction. CBT programs are called "courseware" and provide interactive training sessions for all disciplines. acquired CLS (Common Language Specification) The structure and syntax of .NET and CLI programming languages. See .NET. Group, a developer and marketer of interactive education software for SAP client/server applications, headquartered in Germany. CBT also purchased of New Technology Training, the primary business of which has been to act as CBT's exclusive distributor for Canada. The acquisitions were completed through stock swaps A stock swap also known as a share swap or equity swap is a business takeover in which the acquiring company uses its own stock to pay for the acquired company. , resulting in the issuance of an aggregate of approximately 150,000 CBT American Depositary Shares American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. . "With these acquisitions, CBT has added a significant interactive education software offering for SAP R/3, a leading suite of client-server applications," said William C. McCabe, CBT's chairman and chief executive officer. "Our product development organization has been working closely with CLS since early this year to convert CLS's software into CBT's library structure and to fully integrate it into CBT's value-added deployment software. We believe that this effort is critical to maintaining the integrity of our library strategy and is consistent with our commitment to maintaining a common architecture throughout our educational software library. The initial courses in CBT's library format have already been released, and we are aggressively working to complete the curriculum," continued McCabe. "These acquisitions also accelerate our penetration of important foreign markets," said McCabe. "New Technology Training joins us with years of successful experience selling CBT Systems' products to Canadian corporate customers. In Germany, CLS's sales organizations will continue its distribution of CBT's SAP training curriculum, and will also commence distribution of the remainder of CBT's product library." CBT Group is a leading provider of interactive education software designed to meet businesses' information technology education and training needs. The company develops, publishes and markets a broad library of software titles focused on client/server technologies and delivered on networked and standalone stand·a·lone adj. Self-contained and usually independently operating: a standalone computer terminal. PCs. The Company's products are used by hundreds of the world's leading corporations to train employees to effectively develop and apply client-server technologies. Each CBT Group customer is supported by a network of experience sales, service and support professionals and specialists. For more information on CBT products, contact - tel: 800/929-9050 - fax: 415/737-0377 or visit us at our Web Site www.cbtsys.com. CONTACT: 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 Greg Priest, 415/737-9050 or Morgen-Walke Associates Jenifer Kirtland, 415/296-7383 Neale-May & Partners Angela Hesse, 415/328-5555 x108 |
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