Mount Knowledge Holdings, Inc., an educational software development and sales company that offers proprietary learning software products and teaching services, has announced that on May 27, 2011 it had signed a Letter of Intent with C2 Technologies, Inc. of Vienna, VA in order to obtain 100% ownership of the company. The ownership will include all of C2 Technologies’ intellectual property.
“We are thrilled to be acquiring a recognized market leader in e-learning technologies for human performance improvement, which is proudly servicing most U.S. Federal Government agencies as well as several Fortune 500 companies. C2′s award-winning technology and product implementation will allow us to quickly expand towards our vision of becoming a global provider of e-learning technologies for enhancing human performance, to governments, corporations, schools, and direct consumers,” said Daniel A. Carr, President and CEO of Mount Knowledge Holdings, Inc.
“C2′s established operating history, growing revenue, solid existing contract base and proprietary technologies will assist us in creating a broader global presence in each of our market niches. We believe that the impact of combined technologies and teams at C2 and Mount Knowledge will lead to industry defining technology offerings, desirable to any person or organization seeking rapid, efficient learning and assimilation of any specialized knowledge,” cited Mr. Carr. “This is our 2nd strategic acquisition of an established, profitable company, will further serve to increase shareholder value, and assist in preparing Mount Knowledge to make application at the earliest opportunity, to a more suitable securities exchange for a growth oriented technology company.”
C2 posted its unaudited revenue of more than $42 million for the 2010 year, a 20% increase in revenues from 2009. C2 expects to continue its growth rate of 20% for 2011 as well. Also, the company maintains a backlog of contracted revenue, mainly with its U.S. Federal Government clientele.
Mount Knowledge is currently in the process of sourcing the financing needed to complete the C2 acquisition, along with being in the process of keeping a middle market investment bank familiar with the e-learning space, which will have a trusted and notable track record for successfully carrying out transactions of this scope, nature, and size.
Dolly Oberoi, the CEO of C2 Technologies, Inc. stated, “We could not be more proud of what we have built at C2 over the last 20 years; and now with a shared global vision with Mount Knowledge, we feel confident that our training development tools and resources will be widely accepted in educational and commercial markets worldwide. In addition, we firmly believe that our customers and our staff of professionals will benefit greatly from this combination of technologies and leadership.”
A more definite agreement of purchase is expected to be completed on or before August 1, 2011. However, to date no definitive agreement has been entered into by the parties involved and it is quite possible that the companies will not finalize the agreement by the date mentioned above.
For more information on C2 Technologies, visit their website at http://www.c2ti.com
For further information on Mount Knowledge Holdings Inc., please visit http://www.mkhd.net
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