CINAR is Acquiring Educational Record Label and Publisher Twin Sisters Productions, Inc. for US$9 Million.Business Editors
MONTREAL--(BUSINESS WIRE)--Feb. 22, 2000
CINAR Corporation (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 :CINR CINR Carrier to Interference-plus-Noise Ratio ) (TSE See Tokyo Stock Exchange.
1. See Tokyo Stock Exchange (TSE).
2. See Toronto Stock Exchange (TSE). :CIF (1) (Common Intermediate Format) A standard video format used in videoconferencing. CIF formats are defined by their resolution, and standards both above and below the original resolution have been established. The original CIF is also known as Full CIF (FCIF). .A.) (TSE:CIF.B.) announced today that it is acquiring Twin Sisters Productions, Inc., a U.S. children's educational record label and publisher, for US$9 million in cash, plus additional potential sums based on performance objectives over the next four years. Twin Sisters Productions, Inc. now joins the growing CINAR Education division. This transaction was approved, in principle, at the last Board meeting.
"This acquisition increases the scope of our operations in the growing Education Industry and reaffirms the fact that CINAR's management, supported by its Board of Directors, remains positive about the Company's ongoing business activities. Our solid balance sheet enables us to pursue opportunities as they arise and we stay committed to the development of our business," said Ronald A. Weinberg, President and co-CEO of CINAR Corporation, CINAR Education's parent company.
Founded in 1987 by twin sisters Kim Mitzo Thompson and Karen Mitzo Hilderbrand, Twin Sisters Productions, Inc. is a privately-held Akron, Ohio-based company that develops, produces, distributes and markets high-quality audio products that use music and rhythm to provide children with an alternative way to learn basic skills and build self-esteem. The company's product line includes over 200 cassettes, CDs, CD-ROMs and interactive learning kits on subjects such as the following: Infant Lullabies, Reading Readiness This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.
You can assist by [ editing it] now. , Early Childhood, Math, Foreign Language Instruction, Social Studies, Science and Safety Education. Twin Sisters Productions has won over 80 national product awards for quality, age appropriateness, educational excellence and entertainment value, including many Dr. Toy and Parent's Choice awards, as well as the National Parenting Center Seal Cen´ter seal
1. (Gas Manuf.) A compound hydraulic valve for regulating the passage of the gas through a set of purifiers so as to cut out each one in turn for the renewal of the lime. of Approval.
The titles published by Twin Sister Productions are marketed to teachers and parents, and aimed at children from pre-kindergarten to grade 6. The products are sold by both the company's in-house sales team and by independent representatives, primarily to school supply stores, selected specialty toy venues, music and book distributors/stores, as well as gift and infant/juvenile markets. It has also initiated e-commerce efforts, selling its product on-line at www.twinsisters.com
"Twin Sisters Productions is a welcome addition to the CINAR Education division," declared Stephen T. Carson, President of CINAR Education and of Carson-Dellosa Publishing. "Like CINAR, HighReach Learning and Carson-Dellosa, the company shares a commitment to high-quality, educationally sound learning products that are fun and instill in·still
To pour in drop by drop.
instil·lation n. a love of learning. Among several planned initiatives, Twin Sisters Productions will start distributing selected Carson-Dellosa products within specific segments of the specialty retail market, such as gift and stationery The term for boilerplate in the Eudora mail client, starting with Version 3.0. Stationery files are stored on disk and brought into new messages or added to replies. See boilerplate. stores. As well, HighReach Learning will be including several Twin Sisters Productions products in its next catalogue mailing to teachers across the US, and could enrich its educational preschool curriculum programs with some of the company's musical learning tools."
"We are very excited about the possibilities provided by the synergies between Twin Sisters Productions and CINAR Education's subsidiaries. Music can have such a positive effects on learning. Studies have shown that it enhances spatial reasoning which helps children develop skills in abstract thinking and visualization Using the computer to convert data into picture form. The most basic visualization is that of turning transaction data and summary information into charts and graphs. Visualization is used in computer-aided design (CAD) to render screen images into 3D models that can be viewed from all . Our partnership with CINAR will promote further brand recognition of Twin Sisters Productions products, allow for further market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market
penetration - the act of entering into or through something; "the penetration of upper management by women" and growth, especially within the school market, and encourage partnerships with other CINAR Education companies," said Karen Mitzo Hilderbrand, 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. of Twin Sisters Productions.
Twin Sisters Productions founders Kim Mitzo Thompson, President, and Karen Mitzo Hilderbrand, Chief Executive Officer, will continue in their current positions for a minimum 5-year term.
CINAR Corporation (Nasdaq: CINR; and Toronto Exchange; CIF.A, CIF.B) is an integrated entertainment and education company involved in the development, production, post-production and worldwide distribution of non-violent, quality programming and educational products for children and families. CINAR Entertainment's original productions, distributed in over 150 countries, include two-time Emmy award-winner ARTHUR(TM) (with WGBH Boston), The Busy World of Richard Scarry(TM), Wimzie's House Wimzie's House was a Canadian produced children's television program which ran on YTV from 1995 to 1996 and in the United States on PBS from 1997 to 2001. (TM), Caillou(TM) and Lassie Lassie
canine star of popular film and TV series. [TV: Terrace, II, 13–15; Radio: Buxton, 135]
See : Dogs (TM), as well as mini-series and family films. CINAR Education Inc., CINAR's educational division, promotes children's learning by developing, producing, distributing, and marketing high-quality supplemental educational products worldwide. Through CINAR's diverse programming, its licensing and merchandising of entertainment-related products, and its array of supplemental education products, the Company reaches children worldwide. CINAR's web site www.cinar.com.
Some of the statements in this release concerning the Company's future prospects are 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. that involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include the continued acceptance of the Company's distribution channel by key vendors and customers, the timely availability and acceptance of new products, and the contribution of key vendor relationships and support programs.