Rosetta Stone confirms ‘interest’ from RDG Capital
- May 30, 2015
Language-learning technology company Rosetta Stone said Friday it has received an “expression of interest” from New York-based RDG Capital Fund Management.
In a statement, Arlington-based Rosetta Stone said its board of directors would “carefully evaluate” the private investment firm’s interest in the company.
The statement also said that Rosetta Stone will continue to implement its strategic plan, which includes measures to cut costs and streamline its business, with a focus on corporate and education clients.
By 3:30 p.m. Friday, Rosetta Stone’s stock price had grown 19.1 percent to $7.66 per share on the news.
In the first quarter of 2015, the company reported a 4 percent drop in revenues to $58.4 million and a loss of $19.8 million, compared with a loss of $20.2 million during the first quarter of 2014.