Mirus Advises StudyWeb.com on Sale
Boston, MA, November 9, 1999 – RCW Mirus, Boston’s leading private merger and acquisition advisory firm, announced today that the firm has successfully negotiated the sale of StudyWeb.com to The Lightspan Partnership, Inc. (Lightspan), representing the third technology-related transaction for the firm in the last four weeks.
StudyWeb.com, a division of American Computer Resources, Inc., is a comprehensive web site that categorizes and reviews over 115,000 educational web sites featuring kindergarten through college-level content. Reviews are categorized by subject matter and include grade-level recommendations and content descriptions. “StudyWeb and Lightspan share a common mission to help teachers, parents and students capture the best of the Internet in the most efficient way possible,” states Buff Bowen, co-founder and former owner of StudyWeb.com. Further, “StudyWeb’s content and review engine, developed over the past four years, are a perfect supplement to Lightspan’s Learning Search engine.”
Lightspan is a leading developer of innovative, educational software and Internet products for use in both schools and homes. In a company press release, Lightspan comments, “With [the StudyWeb.com] venture, Lightspan will increase the content currently available within its proprietary search feature, Lightspan Learning Search, as well as expand its capabilities in the secondary education market.”
The principals of RCW Mirus, retained on an exclusive basis by StudyWeb.com, initiated the transaction, acted as financial advisor to the selling stockholders and participated in the negotiations leading to its successful conclusion. Peter Alternative, a Principal of RCW Mirus responsible for the transaction team, commented that “In our view, the Internet is in the process of transforming every aspect of education. The education community is going on-line to increase student interest in education and to create a productive interaction among students, teachers and parents. The huge market opportunity of over $300 billion is driving consolidation in the online education space, and Lightspan’s acquisition of StudyWeb.com is an ideal example of bundling a quality, educational website with one of the most trusted brands in education.”
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to corporate clients in the areas of software, online media, business services and niche manufacturing. Founded in 1987, Mirus provides corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. Additional information about the firm is available at www.merger.com.Back to Transactions