Rosetta Stone to purchase language-learning firm
- December 11, 2013
Language-learning technology company Rosetta Stone has agreeded to purchase a language-learning software company, expanding its presence in Europe and for the first time into China.
Arlington-based Rosetta Stone said it will purchase Tell Me More S.A., a language learning company focusing on higher education and corporate customers, for $28 million, including assumed debt.
Tell Me More offers intermediate and advanced instruction in nine languages and has more than 3,000 customers in Europe, the U.S., Latin America and China.
"This acquisition will immediately strengthen our growing Enterprise & Education business with a complementary suite of products and services that enhances our offering around the world,” Steve Swad, president and CEO of Rosetta Stone, said in a statement. “We will also be significantly building up our European operations and acquiring an established operation in China, where we are not present today.”
The acquisition is expected to add bookings to Rosetta Stone of $25 million to $27 million, which will be realized the company as revenue or deferred revenue.
The transaction is expected to close in January.
Tell Me More is s software program that includes up to 2,000 hours of instructional content with more than 35 learning activities per language. The combined company will be marketed under Rosetta Stone.